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Google Earnings Report: Google Misses Revenue Expectations, Stock Down Over 4%

on July 18, 2013 7:14 PM EDT 0

Google Inc. (NASDAQ:GOOG) reported Thursday $14.11 billion in revenue for the second quarter of this year, a 19 percent increase over the second quarter of 2012. But the mobile and search giant failed to meet the expectations of analysts, who predicted that Google would earn $14.41 billion, Reuters reports.

Since the report was issued, Google's stock has fallen more than 4 percent in after-hours trading, dropping from $910.68 to $870.50 as of this writing.

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Google also reported that second-quarter net income amounted to $3.23 billion, compared to $2.79 billion in the second quarter of 2012. Traffic Acquisition Costs amounted to $3.01 billion, representing 25 percent of Google's advertising revenue.

The Mountain View, Calif., company reported GAAP earnings per share of $9.54 on 338 million diluted shares outstanding, up from the same period last year, when Google reported $8.42 EPS on 331 million diluted shares outstanding. Google's Non-GAAP EPS in Q2 of 2013 was $9.56. In the second quarter of 2012, non-GAAP EPS was reported at $10.16.

You can read the full Google Second Quarter 2013 Earning Results press release here.

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