Monday, February 6, 2023

Google’s 2Q Earnings Rise as Clicks on Ads Soar

BusinessWeek: For the quarter ending in June, Google reported net income of $2.8 billion, or $8.42 per share, up from $2.5 billion, or $7.68 per share, a year ago. Revenue totaled $12.2 billion, a 35 percent increase. However, much of that revenue increase came as a result of the company’s acquisition of Motorola Mobility.

One high point of the company’s report was that ad clicks climbed 42 percent year-over-year. “We’re serious about providing more intelligent results,” said Google’s Susan Wojcicki. “We’re moving beyond a search engine that just matches strings of words to one that understands people, the world, the way people do.”

Google CEO Larry Page was absent from the earnings conference call as he continues to recover from unspecified throat problems, which have been impacting his appearances for more than a month.

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