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Google misses in Q3 with revenue of $16.5B & earnings of $6.35 per share

Google misses in Q3 with revenue of $16.5B & earnings of $6.35 per share

Google today reported its third-quarter earnings for 2014, with gross revenue of $16.5 billion and GAAP earnings per share (EPS) of $4.09 (non-GAAP $6.35). Analysts had expected earnings of $6.53 on revenue of $16.6 billion. In after-hours trading, the company is down by almost 3 percent.

Today’s third quarter report follows an incredibly busy quarter for Google, which only yesterday unveiled Android 5.0 Lollipop and the first Android Lollipop devices: Motorola’s Nexus 6 and HTC’s Nexus 9. And indeed, Google’s progress on mobile, particularly the company’s mobile ad revenue growth this quarter, will play a major role in how investors react today.

Google also recently expanded its Google Shopping delivery service, inked deals with WordPress and Squarespace for Google Apps, and invested in new Google+ features. And on an entirely different note, Google faces growing legal pressure in the U.S. and Europe. Last month, the Federal Trade Commission hit Google with a $19 million fine for billing children for millions in unauthorized credit card charges. And abroad, Google was absolutely pummeled with right to be forgotten requests.

In normal trading, Google was down slightly by approximately one percent. Prior to the bell, GOOG traded around $524 per share — it’s lowest price since mid-May, but the figures are in-line with the NASDAQ overall.

Google’s innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major glob… read more »

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