Google Has Its First $14B Quarter But Net Income Decreases

By 01:21 Thu, 15 Jul 2021 Comments

Google's Q3 results came out earlier than planned and since they didn’t meet Wall Street's expectations, the company's shares dipped and trading of the stock had to be suspended temporarily. Google's shares ended the day 8% down.

While not what analysts expected, Google's third quarter wasn’t that bad. The search giant had its first $14 billion revenue quarter (a 45% increase year over year), helped by revenue from Motorola.

Net income was $2.18 billion, down from the $2.73 billion of last year's third quarter. Google's ads saw a 33% increase in paid clicks, but the price of those clicks was 15% lower than in Q3 2011. The reason behind the drop is the increasing share of mobile ads, which are cheaper.

Anyway, Motorola had a rough quarter. Its revenue was $2.58 billion, but it posted an operating loss of $527 million ($505 million of which was lost by the mobile phone department).

You can acquire more details on Google's financial performance from their full press release.




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