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Google Beats Street In Q3 2013 Earnings; Share Price Rockets Past $900 After Hours

by Todd Haselton | October 17, 2013October 17, 2013 4:00 pm PST

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Google swung and miss during the second quarter when it failed to meet analyst predictions for revenue and earnings, though the company beat Wall Street expectations on Thursday when it reported its third quarter 2013 earnings. Google on Thursday reported an earnings per share of $10.74 on $14.98 billion for the quarter, beating expectations on both fronts. That’s up from an EPS of $9.56 on earnings of $14.11 billion during the second quarter of this year.

The company noted $13.77 billion in segment revenue, up 19 percent over the same quarter last year. Site revenues fell in at $9.39 billion, up 22 percent over Q3 2012, network revenues came in at $3.15 billion, up from $3.13 billion in Q3 2012, and other revenues came in at $1.23 billion, up 85 percent from the same period last year. The firm noted paid clicks increased by 26 percent over the same period last year, while the average cost per click declined 8 percent.

Google’s Motorola Mobility segment generated $1.18 billion in revenue for the quarter, down from $1.78 billion in Q3 2012, despite the introduction of the Moto X, and several new DROID-branded smartphones on Verizon Wireless.

“Google had another strong quarter with $14.9 billion in revenue and great product progress,” Google CEO Larry Page said.  “We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device.”

Google’s share price closed at $888.65 for the day, down 1.04 percent, though the earnings release pushed shares of Google beyond $900 to $944.12, up roughly 6.22 percent, at the time of publication.

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Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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