Google Q3 2013 earnings better than expected, earned $14.89 billion in consolidated revenue
Google’s Q3 2013 earnings report is just out, and from the looks of it, the numbers are better than expected.
In its report, the company stated that it had earned about $14.89 billion in consolidated revenue, $2.97 billion in net income along with non-GAAP earnings of $10.74 per share.
Analysts at Yahoo Finance were close when they expected the company to report about $14.8 billion in revenue as well as an share earnings of $10.35.
Seeing these numbers, investors are reacting positively, where Google’s share price was at 1 percent but moved up to 6 percent in after-hours trading. What is also being watched is Google’s ad business, and in particular, the company’s cost per click, which has experienced a 3.5 percent lift during the last quarter.
Yet the report suggests that CPC has dropped another 8 percent this quarter compared to 4 percent from the year-ago quarter and 6 percent during the previous quarter. Speaking of advertisements though, Google has said it will endorsements and photos from Google+ so as to boost the credibility of some of its ads.
However, Google’s Enhanced Campaigns, which gives users the ability to create an ad campaign across a number of devices, should help the company solidify its position in mobile. As for paid clicks, Google’s figures went up by 26 percent year-over-year as well as above 8 percent over the previous quarter.
The company has also had some success with its hardware division with the Moto X and the Chromecast dongle enjoying favorable reviews in the last quarter.