Google boasts that it generated $111 billion in economic activity for 1.5 million US businesses in 2013

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Google has published its annual Economic Impact Report (PDF) that reveals some interesting statistics about how the web and its tools are helping American businesses. Last year, the report claims that Google tools helped generate $111 billion of economic activity for 1.5 million businesses, web-based publishers and non-profit organizations across the United States.  Read more

Google announces Q2 earnings: $15.96B revenue, $4.99 EPS, $3.42B net income

Google has shared its second quarter earnings result announcing consolidated revenue of $15.96 billion, up 22% since Q2 2013, earnings per share of $4.99, and net income of $3.42 billion.

“Google had a great quarter with revenue up 22% year on year, at $16.0 billion”, said Patrick Pichette, CFO of Google. “We are moving forward with great product momentum and are excited to continue providing amazing user experiences, with a view to the long term.”

Google is scheduled to host its live earnings call with investors and analysts to discuss today’s report at 1:30 PM (PST) / 4:30 PM (EST).

Google’s full press release follows: Read more

Google Chief Business Officer Nikesh Arora leaving to become SoftBank’s Vice Chairman & CEO of Internet and Media division

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In addition to reporting its earnings for Q2 of 2014, Google today also announced that its Chief Business Officer Nikesh Arora will be leaving the company. Arora will be joining SoftBank as a Vice Chairman and CEO of the company’s Internet and Media division. Omid Kordestani, was Google’s business founder and sales team leader, will be taking over as chief business officer.

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Google updates 2D physics engine LiquidFun with Chrome extension and iOS support

Google today announced the release of LiquidFun 1.1, an update to the open-sourced 2D physics engine originally released last December. New in today’s release is browser support and this allows games using the engine only found on Android devices to be ported over as Chrome extensions. Also new in the update is iOS support. Google says previous versions of the engine could be modified to work on iOS, but today’s update brings native support to the platform. The release notes are below:

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Here’s how to make sense of Google’s earnings report later today

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RBC analyst Mark Mahaney has put together a cheat-sheet (via re/code) to help make sense of Google’s earnings call, due later today.

The tl;dr version is that gross revenues above $15.65B will be viewed by the market as positive, below $15.55B seen as negative and anything between the two business as usual. The market consensus is for a neutral announcement at around $15.61B and earnings per share of $6.25 – ad growth offset by lower revenues due to more mobile ads, which typically cost less …  Read more

Hackers working on tool to prevent Nest, Google from collecting user data

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When Google announced its $3.2 billion acquisition of Nest, many users reacted strongly to the idea of Google having access to their information and data, despite both companies claiming that they wouldn’t share any information. The WSJ published a report last month, however, claiming that Nest and Google eventually planned to share some user data between each other. This report only led to even more privacy uproar. Now, a handful of hackers have taken matters into their own hands and have developed a tool to prevent any user data from be sent back to Nest or Google (via Forbes).

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