Google Q1 earnings: $14 billion revenue and $3.35 billion profit, Motorola continues to be soft

Daniel Bader

April 18, 2013 5:19pm

Earnings season is once again upon us, and a number of tech companies are reporting today. Google presented its Q1 2013 earnings today and, overall, the company looks to be in good shape. Revenues of $13.97 billion were down slightly from the always-hot previous quarter, but that number was in line with analysts’ expectations. More impressive was the $3.35 billion net income, which was up over 30% from the same period a year ago.

Motorola Mobility continued to shed money, gross revenue of $1.02 billion and a net loss of $271 million. Patrick Pichette, Google’s CEO, said, “We’re pleased with the velocity of change at Motorola Mobility. We’re excited about the future, but results will continue to be variable.” The amounts of lower, both in revenue and money lost, than the previous quarter, which means internal money-saving measures, in addition to the substantial number of jobs shed, are making a difference.

The company hasn’t released a product since September of last year, but 2013 promises to be one of big changes in the company. Now fully integrated into Google, we’re hearing rumours that the X-Phone will be “phenomenal” and come in up to 20 colours (don’t hold your breath), in addition to being much more manageably-sized. Motorola has also promised to stick fairly close to the stock Android experience, though whether that, along with Google’s help, will be enough to regain much of its lost brand recognition and market share remains to be seen.

Last year was Google’s first $50 billion revenue year, and CEO Larry Page said that the three pillars of the business — Chrome, Android and Ads — would continue to be the focus in 2013. The company is activating 1.5 million Android devices every day and with the release of Google Glass to developers this week, there’s yet another platform on which users can expect to see Google dominate.

Source: Google

  • skullan

    Just over 12 years until every man, woman and child on the face of the Earth has an Android device.

    Time to remake I, Robot and instead of USRobotics, use Google.

    • Avalain

      It’s not really the number of android devices sold that makes this true. It’s how Google is making fully automated cars, Google Glass, etc. Could be some exciting times we live through.

  • JVan

    Ha ha ha never mind

  • Nadefrenzy

    $3.35 Billion profit… holy sh!t!

    • Lukeiphone

      I wish Google donates $7400 to me. All I need to do is pay off my student loan lol

  • jdxkai

    I was wondering what I was reading wrong.. Patrick Pichette is the CFO

  • CADDMan71

    Hi Daniel, I believe Patrick Pichette is Google’s CFO, not CEO. Last I looked co-founder Larry Page was their CEO (which I just noticed you also mentioned later in the article).

  • Sweet

    Over the next several years, Android is going to lose market share in the smartphone market. The reason is simple. The big growth in the smartphone market for the next several years is going to be in markets that can’t afford high-end phones and Android has shown that it runs poorly on low-end hardware.

    WP has proven to run well on such hardware and thus stands to gain big. Helping WP is that Nokia is huge in the developing countries.

    BB10 may also gain in that market as well, since BB has said that there will be low-end BB10 phones later on, but they have yet to show how well BB10 runs on such hardware. The fact that BB10 is just as fast and responsive on a dual-core CPU as Android is on a quad-core CPU, suggests that BB10 will run well on low-end hardware.

    If Apple decides to release a low-end iPhone and it runs iOS well, then they could really cleanup and pull ahead of Android. I’m skeptical about iOS running well on low-end hardware since iOS5 is slow as hell on my 3rd gen iPod touch. But we’ll see.