Google is posting their earnings right now for Q1 which ran from January 1st to April 1st 2014. They pulled in $15.4 billion in the first quarter alone, which is a 19% increase over the Q1 2013 results. They also raked in about $4.12 billion in profits. That's 27% of their revenue. It is an increase in raw profit over last year, it is a decrease in the percentage of revenue that the profit makes up. In Q1 2013 it was 29%.
Google's CEO talked about the results for this quarter and was very pleased with the results, but then again what CEO wouldn't be?
"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."
Site revenues were at $10.47 billion, which is about 67% of their entire revenue for the quarter. Compared to last year which saw a 21% share of the revenue. So that's a rather large jump in site revenue. Which is a good thing. Google's advertising on other sites brought in about $3.4 billion, which is also up year over year. Google advertising on other sites was about 22% of their revenues. Other revenues are sitting at $1.55 billion, that's about 10% of their revenue.
Google is doing their conference call at 4:30pm ET/1:30pm PT today, so for those interested in hearing what Google has to say, be sure to check in on their Investors site. We're not likely to hear from Larry Page on the earnings call since he did say he wouldn't be on the earnings call anymore. But we may hear from Eric Schmidt, who always says some great things.
What does everyone think about Google's earnings for Q1? Guess Motorola's losses didn't really hurt them much after all. That's a great thing for both companies. We should be hearing about Motorola's earnings soon, since Google does technically still own them. Until the deal is final with Lenovo.