Google Inc (GOOG) reports $16B in revenue, $4.26B in net income; Nikesh Arora steps down
Google Inc (NASDAQ:GOOG) has released its Q2 2014 earnings report today. Revenue hit $16 billion, which is up 22% from the previous year. Google’s operating income was $4.26 billion (27% of revenues), which is up from $3.47 billion the year earlier. Net income was $3.42 billion and EPS was $4.99, up from $4.77. In the previous quarter, Google posted revenues of $15.4 billion and a profit of $4.12 billion. Google websites generated $10.94 billion of the total revenues, which is a 23% increase over Q2 2013. Partner websites generated $3.42 billion of revenues. The paid clicks for ads increased 25% year-over-year and cost-per-click was down around 6% in the same period.
Google said that its number of employees at the company increased to 52,069 (48,584 at Google and 3,485 at Motorola Mobile). This is up from 49,829 (46,170 at Google and 3,659 at Motorola Mobile) as of March 31st of this year.
Google chief business officer Nikesh Arora said that he will be leaving the company after 10 years at the company. Arora will join SoftBank as the Vice Chairman of the company. He will become the CEO of SoftBank Internet and Media. Omid Kordestani will be stepping in to take Arora’s place.
In 2012, Google made Arora the highest paid exec at the company. His compensation package was more than $51 million, including an $8 million cash bonus that Arora agreed to give back if he left the company before April 2015. Google said its board waived that requirement though.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry