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:
A quick recap: Google posted revenue of $14.1 billion and a net of $2.18 billion, with Motorola accounting for 18 percent of consolidated revenues. It brought in $2.58 billion.
4:22 – YouTube, where the call is hosted, appears to be down.
4:27 – YouTube is back.. things should be getting underway soon..
4:30 – The call has begun. CEO Larry Page, CFO Patrick Pichette, and others are on the call to discuss the earnings.
4:32 – Page is on with commentary. “Hell everyone thanks for joining us, it’s great to be on the call today. My voice is still [bad].” Apologizes for releasing earnings early.
Wow, Page sounds terrible.
4:34 – Mobile commerce and search are going dramatically across the world, says Page. “Tremendous innovation in advertising.”
4:35 – “Today there are over half a billion Android devices. That’s 1.3 million more being activated everyday. You should all run out and buy the Nexus 7 tablet…It’s an amazing device. A ton of energy making sure are technologies are working together..users want one consistent Google experience.”
How about all those versions of Android, Mr. Page?
4:38 – Page talking how painless Google Chrome for Android is. Switching between devices is easy he says.
4:39 – Still talking the importance of Google products.. Google Now and more.”Save users time and hassle. I’m excited about the opportunities ahead.”
4:42 – CFO Patrick Pichette is on the line to talk money specifics. Discussing new $8 billion run rate for mobile… Google Play and its ads. Up from $2.5 billion a year ago.
4:44 – “We’re at the beginning of the Google + Motorola story.”
4:48 – 53,000 full-time employees at Google.
4:50 – SVP of Business Nikesh Arora on the line. Talking more business specifics.
4:52 – More talk about advertising in the mobile space.
4:53 – Google click-to-call ads generating 20 million calls per month.
4:56 – 100 brands have 1 million or more followers on Google+.
4:58 – Now time for questions from analysts and investors.
4:59 – Marketing expenses are to cover Nexus 7 marketing during Q3.
5:01 – Page: “We’re trying to find answers for people.”
5:03 – What’s happening to desktop search? Different screen sizes and platforms will open new opportunities for advertisers.
5:09 – Talking Google TV and YouTube integration. “We’re a great partner with Apple.”
5:15 – more questions..
5:17 – Google Fiber is slowly rolling out.. just getting started.
5:19 – Majority of the $8 billion run rate is ads.
That’s the end.