Google’s third-quarter 2013 earnings call has exceeded analysts’ expectations, resulting in an 8pc rise in stock during after-hours trading.
“Google had another strong quarter with US$14.9bn in revenue and great product progress,” said CEO Larry Page. “We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device.”
Google noted a third-quarter net profit of US$2.97bn – a rise of 36.5pc – amounting to US$8.75 per share.
The market responded to Google’s strong quarterly performance in after-hours trading yesterday, when the company’s stock rose to US$959.65.
Google redeemed itself on dropping below expectations in its Q2 financial results and, for the three-month period ended 30 September 2013, GAAP operating income was US$3.44bn and non-GAAP operating income was US$4.34bn.
As far as Motorola Mobile goes, some commenters still believe this division is not yet pulling its weight. Segment revenues accounted for 8pc of consolidated revenues at US$1.18bn, down 33pc on last year’s figures.
The operating loss for Motorola Mobility has widened year-on-year to US$248m, but this is down from the previous quarter’s US$342m.