Beginning at 4:30PM EST, we’ll be getting the full break-down of Google’s earnings for the third fiscal quarter. In an odd turn of events, Google released its earnings early this afternoon due to a screwup with its SEC filing. The screwup caused Google to close down its stock for the better part of the afternoon, causing a steep drop. Google may discuss the situation on the call… stay tuned after the break:
Today, Facebook is announcing a major overhaul to its Android SDK with the release of Facebook SDK 3.0 Beta for Android. As it recently did for iOS developers, it is also launching a new Android Dev Center with resources and tools for integrating Facebook into mobile apps. In a blog post on the company’s Developer Blog, Facebook’s Michael Marucheck said the new SDK “makes it easier to build more immersive social experiences, as well as better distribute and promote your app.”
With this update, our SDK provides advanced functionality that makes it easier to build more immersive social experiences, as well as better distribute and promote your app. With our SDK and Open Graph, now it’s even easier to get more people to install and use your apps regularly.
Some of the new features in the Beta include: new native UI controls, simplified session management with new tools for authorization and authentication, and better Facebook API support with batch SDK requests, enhanced Mobile install measurement to “measure clicks and installs for mobile app install ads,” and other improvements.
Facebook highlighted some of the new native UI controls included in SDK 3.0 that are “more efficient and responsive” for web developers than web dialogs:
The new Chromebook is a great computer at any price, but it’s an incredible computer at $249. It’s one of the lightest laptops on the market. You can easily carry it around all day—it’s 2.5 pounds, a mere 0.8 inches thick, with more than 6 hours of battery life for the typical user. And with 100 GB of free storage on Google Drive*, you can get to all of your stuff anytime, anywhere.
Even with its compact design, it’s packed with performance—it boots up in less than 10 seconds and resumes instantly. High-resolution videos (in 1080p) are beautiful to watch and when using the touchpad, you’ll notice smooth scrolling due to a hardware-accelerated user interface. And as you‘d expect from a Chromebook, it’s easy to share with others. Everyone—mom, dad, grandparents, tech lovers, tech haters—can have separate accounts where all of their stuff is kept safe. Finally, if you’re an active Google user of products like Gmail, Drive, Search, Maps, YouTube, Play or Google+ Hangouts, everything just works seamlessly.
The new Chromebook weighs a little less than 2.5 pounds, but it boasts the same 6.5-hour battery life. The screen, however, is 0.5-inches smaller with a 1,366-by-768-pixel resolution. The most notable difference in Google’s thinner Chromebook is the Samsung Exynos 5250 dual-core processor inside, and it features a Cortex-A15 chip that reportedly runs 1080p video and ChromeOS pretty well. GigaOm’s Kevin C. Tofel even noted the overall performance is “comparable to the Intel-powered Chromebook I have, but perhaps a half-step behind; at least in my few hours of using the device.”
This is finally a compelling offer at $249—as long as the hardware is fast. It looks like a base-line MacBook Air (and will surely draw criticism for that) for a quarter of the price. Again, so long as it performs, I don’t think Google will have a problem selling them to its intended audience: grandparents, kids, and as second or third computers for those who are heavy Google service users, and companies that need cheap mobile workstations.
Update: More reviews are starting to come in and unfortunately many are complaining about slowness. Not surprising for a $249 machine but clearly not for power users.
A gallery is below.
It looks like Google’s Q3 earnings have been released early with The Wall Street Journal reporting Google posted revenue of $14.1 billion and a net of $2.18 billion. A summary of the company’s earnings report from a U.S. Securities and Exchange Commission filing is below. In the report, we see Motorola accounted for 18 percent of consolidated revenues. It brought in $2.58 billion, while reporting a $527 million operating loss. Of that $527 million operating loss, $505 million comes from Motorola’s mobile segment and $22 million from its home business. Google reported cash, cash equivalents, and short-term marketable securities at $45.7 billion as of Sept. 30 and operating income of $3.26 billion.
As highlighted in the screenshot above, Google is down almost 10 percent following the news. Google made a statement on what happened with the early filing (via Business Insider):
“Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization. We have ceased trading on NASDAQ while we work to finalize the document. Once it’s finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30 PM PT.”
Google is scheduled to announce earnings later today at 4:30 p.m. EST.
Q3 Financial Summary
Google Inc. reported consolidated revenues of $14.10 billion for the quarter ended September 30, 2012, an increase of 45% compared to the third quarter of 2011. Google Inc. reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the third quarter of 2012, TAC totaled $2.77 billion, or 26% of advertising revenues.
Operating income, operating margin, net income, and earnings per share (EPS) are reported on a GAAP and non-GAAP basis. The non-GAAP measures, as well as free cash flow, an alternative non-GAAP measure of liquidity, are described below and are reconciled to the corresponding GAAP measures at the end of this release.
Verizon held its Q3 2012 earnings call this morning and —aside from announcing $29 billion in total operating revenue— revealed Android smartphones were 79 percent of its total smartphone activations for the quarter.
The nation’s second-largest carrier also said operating revenue experienced a 3.9-percent gain over last year, while noting a third consecutive quarter of “double-digit percentage growth.” As for mobile device activations, 4G LTE smartphone penetration increased from “just below 50 percent last quarter to more than 53 percent.”
The company further disclosed that it activated 6.8 million smartphone in Q3, and 3.4 million of those activations were Android-powered devices. Three million were also specifically 4G LTE Android. In terms of iPhone activations, for comparison’s sake, Verizon activated 3.1 million with only 21 percent of the iPhones supporting 4G LTE.
The carrier then gave more information on its aggressive LTE rollout across the United States (via Yahoo Finance | Earnings Call Transcript):
[sic] In terms of 4G LTE coverage we are by far the market leader. Our 4G LTE service is currently available in 419 markets covering more than 250 million tops roughly 80% of the U.S. population. As our TV commercial say, we have more 4G LTE coverage than all of our competitors networks combined. We will continue expanding our 4G LTE network with a goal of having a nationwide foot print similar to our 3G network next year.
Visit Verizon’s Investor Relations page for more specifics.
The press release is below.