Each quarter, public companies hold their earnings call with investors. Google’s was today, and CEO Larry Page began by talking about Google’s interest in multi-screen technologies— Both Chromecast and Google Glass fall under this category. Then, he mentioned smart-watches. We knew Google was working on their own version of the fast-growing device, but this is the first time we’ve heard it officially mentioned.
Google announced revenue of $14.89 billion this quarter, a 12% increase from last year’s earnings in Q3. This number soared above the expected earnings for this quarter, which is certainly great to hear considering Google didn’t hit their expected earnings in the last 2 quarters. Along with the announcement came, as expected, a huge surge in stock price— the price per share is now flirting with $1000.
Motorola (remember, it’s now owned by Google) didn’t receive such great news, though. The company dropped $600 million from last year’s Q3 numbers— total revenue went from $1.78 billion to $1.18 billion. Moto’s operating loss for Q3 stands at $243 million, growing from last year’s $192 million. The numbers weren’t entirely unexpected, though— expect a huge bounce-back in Q4 with the holidays coming up, and because of the launch of the Moto X and the three new Droid phones. (Remember, these devices only came out at the tail-end of Q3, and the company was relatively inactive in releasing flagship devices throughout the earlier parts of Q3.)
Google also spoke about new marketing strategies, and unified Google Experience shops at Best Buy— the company plans on making “advertising seamless.”
Source: WallStreetJournal
Come comment on this article: Google experiences explosive Q3 earnings, Moto takes on more losses, smart-watches mentioned in earnings call
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