Google Inc (NASDAQ:GOOG)’s I/O developers conference is this week, and day one focused mainly on services and new products and developer tools for Chrome and Android. Analysts at JPMorgan released a report today on their takeaways from the first week of Google’s I/O developer’s conference.
Rapid Adoption Of Android And Chrome Is Encouraging
One of the main things JPMorgan analysts said they found encouraging from all of Google Inc (NASDAQ:GOOG)’s updates from the first day was the rapid adoption of both of its major platforms. The search giant reported that it more than doubled the amount of Android activations in 2013 to 900 million, compared to 400 million last year and 100 million in 2011.
Google has said it’s pushing its Android platform in underpenetrated markets like South America, Russia, Asia and Africa, which have a10 percent Android penetration or less. Also the company reported that it just passed 48 billion app installs, including more than 2.5 billion just in the last month. In addition, Google’s global revenue per user is more than 2.5 times greater than it was at this time last year, and it has more than 750 million monthly active Chrome users, compared to 450 at the same time last year.
Google’s Updated Services
Among the many updated services we have now from Google Inc (NASDAQ:GOOG) are Google Wallet, updates to Google Maps, a makeover for Google+ and Google All Access, the company’s new subscription music streaming service. The company announced a number of new developer tools for these products and others, including Google Locations, Cloud Messaging and Game Services.
JPMorgan analysts said Google’s updates to both Chrome and Google Wallet serve to enhance users’ web experience. The company’s previous shopping cart abandon rate on mobile devices was close to 97 percent because there was an average of 21 steps from search to purchase. However, the buying experience is now streamlined thanks to these upgrades, which lower it to three steps and make purchases faster and more secure.
After reviewing all of these updates, analysts at JPMorgan said they remain confident that “Google fundamentals are strong.” In their projections, the search giant’s organic gross revenue will swell 22.7 percent this year.
The Google Nexus Galaxy S4
The only bit of hardware Google Inc (NASDAQ:GOOG) introduced during day one was the Nexus Android mobile interface for the Samsung Galaxy S4. The new handset will be available for $649 in June.
