Google Reveals $14 Billion Revenue In Q1 Earnings
Google presented its Q1 2013 earnings today and, overall, the company looks to be in good shape. Revenues of $13.97 billion were down slightly from the always-hot previous quarter, but that number was in line with analysts’ expectations. More impressive was the $3.35 billion net income, which was up over 30% from the same period a year ago.
Motorola Mobility continued to shed money, gross revenue of $1.02 billion and a net loss of $271 million. Patrick Pichette, Google’s CFO, said, ”We’re pleased with the velocity of change at Motorola Mobility. We’re excited about the future, but results will continue to be variable.” The amounts of lower, both in revenue and money lost, than the previous quarter, which means internal money-saving measures, in addition to the substantial number of jobs shed, are making a difference.
The company hasn’t released a product since September of last year, but 2013 promises to be one of big changes in the company. Now fully integrated into Google, we’re hearing rumours that the X-Phone will be “phenomenal” and come in up to 20 colours (don’t hold your breath), in addition to being much more manageably-sized. Motorola has also promised to stick fairly close to the stock Android experience, though whether that, along with Google’s help, will be enough to regain much of its lost brand recognition and market share remains to be seen.
Last year was Google’s first $50 billion revenue year, and CEO Larry Page said that the three pillars of the business — Chrome, Android and Ads — would continue to be the focus in 2013. The company is activating 1.5 million Android devices every day and with the release of Google Glass to developers this week, there’s yet another platform on which users can expect to see Google dominate.