Google Inc (NASDAQ:GOOG) released its earnings report for the three months ending September this afternoon after the bell rang on Wall Street. The search giant showed earnings of $10.74 per share for the three month period on revenues totaling $14.89 billion. On today’s market, shares in the Mountain View, California company finished the day at $888.79
Analysts following Google Inc (NASDAQ:GOOG) were looking for earnings of $10.37 per share from this earnings report according to consensus. Revenue was expected to come in at $14.8 billion for the period. In the same three months of 2012, Google Inc (NASDAQ:GOOG) managed to earn $9.03 per share on revenue of $14.1 billion.
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Google is still the king of online advertising, and the company has not become complacent at the top. The firm is constantly updating its search algorithm and its marketing offerings in order to increase the price of its ads. The more effective an ad on Google Inc (NASDAQ:GOOG) services is, the more the company makes from each sale.
One of the major problems for Google Inc (NASDAQ:GOOG) in recent years has been the move to mobile. Google was ahead of the posse in grabbing onto the platform, but Cost Per Click is still a good deal lower on smartphones and tablets. The search giant is taking an interesting tack to bolster those numbers. It’s trying to mix the worlds of mobile and desktop advertising rather than offer specific mobile-only ads.
One of the big worries for Google Inc (NASDAQ:GOOG) through 2013 has been the performance of Enhanced Campaigns, a new AdWords feature designed to help Google monetize its mobile offerings more efficiently. Advertisers have been reluctant to take to the new feature, and it has had negative effects on Google’s revenue.
Google Inc (NASDAQ:GOOG) shares have been ahead of the market in 2013, gaining 26 percent, while the S&P 500 gained 20 percent. However, the company still has a lot of ground to cover in order to solidify its place at the head of the Internet world.
Companies like Facebook Inc (NASDAQ:FB) and Twitter have not shown an ability to compete with Google on the effectiveness of their advertising, but they could catch up. Google will be watching both firms, and other competitors like Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) closely in the next year.
Google Inc (NASDAQ:GOOG) executives will host a conference call at 4:30 PM EST in order to discuss these results.