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Google growth slows, still beats street with $14.89 billion in revenue

updated 04:38 pm EDT, Thu October 17, 2013

Search engine monolith sees increase in ad clicks, drop in cost-per-click

Google today reported consolidated revenues of $14.89 billion for the quarter that ended September 30, an increase of 12 percent compared to the same quarter of 2012. Traffic acquisition costs came in at $2.97 billion, 24 percent of advertising revenue. Operating income in the third quarter of 2013 was $3.44 billion, or 23 percent of revenues. Cash, cash equivalents, and marketable securities grew to $56.52 billion in the quarter.

"Google had another strong quarter with $14.9 billion in revenue and great product progress," said Larry Page, CEO of Google. "We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device."

Google beat Wall Street estimates of $14.80 billion, despite little growth in market share, and a drop in cost per click. The company reported an increase of 26 percent of aggregate ad clicks, an increase of eight percent from the previous quarter. Cost-per click decreased eight percent over the year-ago quarter, with a four percent drop from the second quarter of 2013.

Net cash provided by operating activities in the third quarter of 2013 totaled $5.08 billion, compared to $4.0 billion in the third quarter of 2012. In the third quarter of 2013, capital expenditures were $2.29 billion, the majority of which was for production equipment, data-center construction, and real estate purchases.

Globally, the Google workforce increased to 46,421 full-time employees, compared to 44,777 in June. The company claims that it will "continue to make significant capital expenditures" which includes companies and additional workspace for growth.



By Electronista Staff
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