It’s that time again, time to see how the Mountain View giant we know and love has been doing financially and from the look of the numbers it’s not terrible, in fact after hours trading on Nasdaq saw a 7.96% rise to reach $959.51 which is an all time high for their share price based on previous numbers.
So, how did Google do? Results for Q3, ending 30th September 2013 :
- $14.89 billion in revenue, up 12% on Q3 2012.
- $3.44 billion consolidated revenue for Q3, up 21% on Q3 2012.
- $2.97 billion net income, up from 2.18 billion on Q3 2012.
- $56.52 billion cash on hand as of September 30th 2013, up from $54.4 billion reported Q2 2013.
- 46,421 full-time employees (42,162 in Google and 4,259 in Motorola Mobile).
- Motorola revenue of $1.18 billion but down from $1.78 billion in Q3 2012
Motorola continues to be a drain for Google with a $248 million loss in Q3, but that’s dropped from the $342 million in the second quarter. Google seems to be stemming the flow somewhat, shedding another 340 staff at Motorola this quarter; not as drastic as the 4,000 last quarter but this could possibly contribute to stemming the flow long term. With their Moto X flagship device now released, Google and Motorola need to look at expanding to other markets now to possibly help stop the losses long term, perhaps the Moto DVX.
Larry Page seems pretty happy about the results and intends to continue to focus on good design
Google had another strong quarter with $14.9 billion in revenue and great product progress. We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device.
Larry also seems to be looking at the future and spoke about expanding to other screens with a direct mention of Smartwatches :
For years everyone talked about the multi screen world. Now it’s arrived … BUT at a scale few imagined. People increasingly have more than one device. And screens are proliferating — in the home as well as wearable screens like watches and Google Glass.
Overall a good result for Google and now, with that out of the way can we now get some Kit Kat and Nexus (5, 10 and Smartwatch) action please Google?