Google’s Q2 results fall short of Wall Street estimates

The second-quarter results reported by Google on Thursday fell short of the Wall Street's estimates, chiefly because of the fact that prices for Google's ads are weakening and the losses from the company's 2012-acquired Motorola mobile phone business have widened.

Going by the quarterly earnings reported by Google, the company's consolidated revenue - including the earnings from its Motorola mobile phone business - stood at $14.11 billion in the second quarter, as against the same quarter last year revenue of $11.81 billion.

The second-quarter revenue figures reported by Google fell short of the analysts' expectations. According to Thomson Reuters I/B/E/S, analysts had expected Google to post $14.4 billion in revenue for the reporting quarter.

However, though Google's revenue for its core business witnessed an increase of 20 percent to $13.11 billion during the quarter, the `$9.56 per share earnings' - excluding items - reported by Google missed analysts' expectation of a projected `$10.78 per share' earnings.

In spite of the lower-than-expected quarterly results posted by Google, CEO Larry Page touted the company's mobile strategy during a conference call with analysts, investors and media on Thursday, and teased interest in a forthcoming next-generation of mobile devices.

Page said that "there's so much excitement around new devices today, and the potential for innovation is tremendous;" and added: "I know you are all eagerly anticipating what Motorola is launching soon."

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