Google's 2nd-quarter earnings climb 11% despite downturn in search ad prices
July 19, 2012 - 4:38 PM
Google's second-quarter earnings rose 11 per cent despite a deepening decline in the prices paid for its Internet search advertising.
The results announced Thursday included Google's US$12.5 billion acquisition of cellphone maker Motorola Mobility Holdings Inc. for the first time.
Google Inc. owned Motorola for the final 39 days of the quarter ending in June.
Google Inc. earned $2.8 billion, or $8.42 per share, during the three months ending in June. That compared with net income of $2.5 billion, or $7.68 per share, last year.
The earnings would have been $10.12 per share, if not for Google's accounting costs for employee stock compensation and the Motorola deal.
Revenue climbed 35 per cent from last year to $12.2 billion. If not for Motorola, revenue would have increased by 21 per cent.
News from © The Associated Press, 2012