It’s earnings call season and Google is joining the slew of companies releasing quarterly financial results this week. The company announced Q2 earnings just after trading closed on Thursday and kicked off an earnings call with investors at 4:30 p.m. ET.
Google’s earnings were below expectations, coming in at $6.08 per share when analysts had expected $6.25 per share. However, Google did surpass expectations as far as revenue is concerned. The company announced $12.67 billion in net revenue this afternoon, well above the forecast $12.39 billion analysts had expected. Gross revenue was $15.96 billion, which represents a 22 percent increase compared to the same period a year ago. All told, operating income for this quarter rings in at $4.26 billion.
Buried in the release is the news that Nikesh Arora, Chief Business Officer and one of the highest paid Google execs, is leaving after a decade with the company. He’s going to SoftBank where he’ll fill the role of Vice Chairman of SoftBank and CEO of SoftBank Internet and Media. Google doesn’t have a replacement for him yet, but Omid Kordestani will lead the company’s business organization in the interim.
[source]Google[/source]
