Google on Thursday reported its second quarter 2014 earnings. The company noted earnings of $6.08 per share on $15.96 billion in revenue, missing Wall Street expectations of $6.24 earnings per share, but beating revenue expectations that called for $15.62 billion.
“Google had a great quarter with revenue up 22% year on year, at $16.0 billion,” Google CFO Patrick Pichette said Thursday evening. “We are moving forward with great product momentum and are excited to continue providing amazing user experiences, with a view to the long term.” 69 percent of Googles total revenues, or $10.94 billion, was generated by its family of sites. Network revenues of $3.42 billion accounted for 21 percent of all revenues, while the remaining $1.60 billion in revenue was generated in other categories. 58 percent of Google’s total revenues during the quarter came from outside of the U.S. Paid clicks jumped 25 percent over the same quarter last year, while cost per click decreased 6 percent.
Google said it’s now sitting on $61.20 billion in cash, which means it has a lot of money to move around, whether it’s for additional acquisitions or expensive new moonshot programs.
Finally, the firm said that its current chief business officer, Nikesh Arora, is departing the firm for SoftBank, where he will serve as the vice chairman and the CEO of SoftBank Internet and Media.
Shares of Google are up about 1.25 percent in after-hours trading on the news, despite the miss on earnings.