Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) released the results from its most recently completed quarter, posting non-GAAP earnings of $6.27 on consolidated revenues of $15.42 billion. Analysts had been expecting to see earnings per share of $6.44 on $15.54 billion in revenue for the quarter.
Details on Google’s results
GAAP earnings per share, including impacts from discontinued operations, were $5.04 a share on 685 million outstanding diluted shares. That’s compared to $4.97 a share on 673 million outstanding diluted shares in the same quarter a year ago. GAAP operating income was $4.12 billion, while GAAP net income was $3.45 billion. Non-GAAP net income was $4.3 billion.
Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) states that the non-GAAP results exclude stock-based compensation expenses and net losses from discontinued operations.
Breaking down Google’s results
Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG)’s Sites revenue rose 21% during the quarter to $10.47 billion, making up 68% of its total revenue. The search giant’s Network revenues were $3.4 billion or 22% of its total revenues. This is a 4% increase. Other revenues rose 48% to $1.55 billion and made up 10% of the company’s total revenues. International revenues were $8.76 billion.
Aggregate paid clicks rose by about 26% year over year but fell by about 1% sequentially. Average cost per click fell by about 9% year over year but was flat with the previous quarter. Traffic acquisition costs rose to $3.23 billion, compared to $2.96 billion in the same quarter a year ago. Other cost of revenues rose to $2.73 billion for the first quarter.
Operating expenses rose to $5.34 billion from $4.07 billion in the same quarter a year ago. Net losses from discontinued operations for the quarter were $198 million. That’s compared to net losses of $182 million in the same quarter a year ago. Those net losses included a $74 million pre-tax adjustment in connection with the deferral of some revenue for Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG)’s Motorola Mobile segment, which it is selling to Lenovo. If the company had included the segment as an operating segment, revenue would have been $1.45 billion.