Google's Q2: $12.67B in revenue, $6.08 EPS, business chief departing

Google's Q2: $12.67B in revenue, $6.08 EPS, business chief departing

Summary: Hidden right under the updated headcount, it was announced that Mountain View would be short one top executive soon.

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Following a quarter consisting of the acquisition of satellite company Skybox and more light on its Android-based Internet-of-Things roadmap, Google published second quarter earnings after the bell on Thursday.

The Internet giant reported a net income of $3.42 billion, or $4.99 per share (statement).

Non-GAAP earnings were $6.08 per share on a revenue of $15.96 billion, including traffic acquisition costs (TAC).

TAC totaled $3.29 billion. Excluding TAC, revenue was $12.67 billion.

Wall Street was looking for earnings of roughly $6.25 per share on a revenue of $12.32 billion, excluding TAC.

Much of the Q2 report reflected on news from the first half of the year, including the multi-billion sell-off of various parts of Motorola Mobility to Lenovo.

But hidden right under the updated headcount, it was announced that Mountain View would be short one top executive.

Chief business officer Nikesh Arora will be leaving Google after nearly a decade to serve as Vice Chairman of SoftBank Corp. and CEO of SoftBank Internet and Media.

Omid Kordestani, a senior advisor to the CEO and founders of Google (and titled as a "business founder" for the company itself), will be filling in for the interim.

Otherwise, Google counted 52,069 full-time employees worldwide as of June 30, compared to 49,829 at the same time last year. The Q2 2014 tally breaks down to 48,584 within Google and 3,485 in Motorola Mobile.

zdnet-google-q2-2014-2

 

Also filling in for another colleague (this time CEO Larry Page), chief financial officer Patrick Pichette briefly reflected on the quarter in prepared remarks:

Google had a great quarter with revenue up 22% year on year, at $16.0 billion. We are moving forward with great product momentum and are excited to continue providing amazing user experiences, with a view to the long term.

For the current quarter, analysts are expecting earnings of $6.63 per share on a revenue of $16.37 billion.

Arora will still be present during the quarterly shareholders call at 1:30PM PT/4:30PM ET.

Slides via Google Investor Relations

Topics: Apps, Cloud, Google, Mobility, Google Apps

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5 comments
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  • Clearly, anyone can see how Microsoft's Scroogle campaign

    is killing Google's profits :)
    BoxOfParts
    • Non sequitur

      Profits did drop since last quarter but that's really a non-sequitur.
      Buster Friendly
    • It's still a pathetic showing for a company that's the darling of

      Wall-Street and millions so-called tech gurus and tech bloggers.

      It's still pathetic because, they're still dependent on advertising via a search engine, for almost all of their earnings.

      Some day, they'll have other divisions (or diversions) making money for them. Or perhaps not.

      Google: the more they diversify, the more they remain stagnant.
      adornoe@...
  • Thieves in suits printing money using stolen code.

    .
    Owl:Net
    • Google, the great harvester

      Google is the great harvester of companies. It hoovers away their value as they make peanuts, and makes billions every quarter on account its ginormous, efficient scale. It's like record companies on steroids. They too suck the value from many, many talent, show off a handful of successful artists, while they walk away with many millions of dollars.
      P. Douglas