Google boasts $3.35 billion net income in Q1 2013 earnings

Apr 18, 2013

Google is out with their first quarterly earnings report for 2013, and things are looking high and mighty for the Mountain View-based company. They ended up raking in a revenue of $14 billion during the three months, and ended up netting $3.35 billion. Compared to last year at this time, revenue is up a whopping 31%.

CEO Larry Page coined this quarter's earnings as a "very strong start to 2013," even though the company's revenue and income have remained slightly stagnant over the past few quarters. Operating income for the company was $3.48 billion for the quarter, compared to last year's $3.39 billion operating income during the same quarter.

As far as Google's net income of $3.35 billion, this is a slight increase over the previous quarter's $2.89 billion, and the company's $14 billion revenue is slightly down from $14.42 billion during Q4 2012. As for the company's cash on hand at the moment, we're looking at just over $50 billion in the bank.

Page says that Google is "working hard and investing in [its] products that aim to improve billions of people's lives all around the world." As for Motorola, they experienced a bit of a drop off in revenue, posting just over $1 billion this quarter, compared to $1.51 billion during the previous quarter. The company also experienced an operating loss of $271 million. Ouch!

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