Google boasts $3.35 billion net income in Q1 2013 earnings

Apr 18, 2013
0

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!


Must Read Bits & Bytes