Google has just released their Q1 2014 earnings report, the good news is that they made money. They’ve also addressed the sale of Motorola to Lenovo, there’s no effective dates as yet but they have listed financial results from Motorola Mobile as “Net loss from discontinued operations”.
Larry Page, as CEO noted in the opening of the report
‘We completed another great quarter. Google’s revenue was $15.4 billion, up 19% year on year. We got lots of product improvements done, especially on mobile. I’m also excited with progress on our emerging businesses.
The full statement is available to read online, but the meat of the numbers are this :
- $15.42 billion consolidated revenue for Q1, up 19% on Q1 2013.
- 3.45 billion net income, up from 3.35 billion on Q1 2013.
- $59.38 billion cash on hand as of March 31, 2014, up from $58.72 billion reported last quarter.
- 49,829 full-time employees (46,170 in Google and 3,659 in Motorola Mobile).
- Motorola Mobile had an operating loss in Q1 2014 of $198 million.
Google also completed a stock split earlier this month, which was announced last earnings call. Google shares closed at $556.54 but fell 2.88% to $540.50 in after hours trading.
Patrick Pichette, Senior Vice President & Chief Financial Officer and Nikesh Arora, Senior Vice President & Chief Business Officer are currently speaking on the earnings call which is streaming now :