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Both tech giants Google and Microsoft reported their quarterly earnings recently, showing big jumps in profits thanks to solid performance in their core divisions. The Mountain-view based search company reported...
04-18-2013, 08:55 PM #1
Both Google and Microsoft Post Large Profit Jumps for Last Quarter
Both tech giants Google and Microsoft reported their quarterly earnings recently, showing big jumps in profits thanks to solid performance in their core divisions. The Mountain-view based search company reported a “very strong start to 2013” according to CEO Larry Page. Google’s revenue for the quarter came in at $13.97 billion, up 31% year-over-year. Quarterly profit stood at $3.35 billion, up from $2.89 billion for the same quarter in 2012.
Google’s rate of paid clicks was up 20% from a year previous, while the price advertisers pay per click was down about 4%. Google’s big moneymaker advertising revenue was up 16%. Google’s Motorola division continued to lose money in the last quarter. Motorola Mobile posted an operating loss of $271 million on revenues of $1.02 billion. As of right now, Google is selling Motorola’s set-top box business to Arris Group for $3.25 billion in a deal that is expected to close sometime in April.
The software giant, Microsoft, also posted a boost in profits for the last quarter, with third-quarter earnings at $6.06 billion, up 19% year-over-year. Microsoft saw revenues increase 18% year-over-year to $20.49 billion. Microsoft’s Business Division saw revenues of $6.32 billion, a year-over-year increase of 8%, while the Server & Tools division grew 11% to $5.04 billion in revenue. Revenue for the Windows Division was up 23% year-over-year to $5.7 billion, though adjusted their flat year-over-year was at $4.6 billion. The Entertainment and Devices Division, which includes Microsoft’s Xbox console, saw revenues up 56% year-on, with $2.53 billion generated. The company’s online Services Division saw $832 million in revenue, up 18% year-over-year.
In Microsoft’s company conference call, the company’s CFO, Peter Klein, announced he will be leaving at the end of June. The company is said to name a new CFO from within its current financial team within the next week weeks.
Apple on the other hand is said to release its quarterly results in a company conference call on April 23. We’ll have to see how the Cupertino California company stands when compared to its competitors.
Source: Google, The Wall Street Journal via AppleInsider