Google?s results came in near expectations on Wednesday with core revenues of $11 billion and earnings per share of $11.58. The numbers, which don?t include the company?s Motorola division, also showed a slight decline in Google?s ?cost-per-click? revenues which is a key barometer of the company?s advertising business.
Google share price was up about 1 percent in after market trading to $772. ?The company?s consolidated revenue, which includes Motorola and traffic acquisition costs, was $13.97 billion. Analysts polled by Thomson Reuters predicted $14.09 billion, and?earnings per share of?$10.66.
On an earnings call following the release of the results, CEO Larry Page talked up the company?s highly experimental products of the future such as driverless cars, the secret Google X lab and Google Glass. He said products like Gmail were at one time considered to be far from the company?s core search business, but eventually became everyday features. He also cited the fiber-to-home networks Google is unrolling in Kansas, Austin and Provo, Utah.
?That?s why we?re investing in what appear to be speculative products to you today,? said Page, adding in reference to Google Glass,??I get chills when I use a product that is the future?
Analysts on the call were not entirely persuaded, with one asking if the company would shift the resources it devotes to core versus experiment products. Page said the company would continue doing what it was doing.
In response to a question about whether Facebook?s Home screen for cell phones could marginalize Google software, Page did not address the issue directly but emphasized the company?s overall strength.
More highlights from the earnings and call coming soon.
Source: http://gigaom.com/2013/04/18/google-hands-in-average-earnings-as-ceo-page-talks-up-future/
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