Google Inc (NASDAQ:GOOG) released its December quarter earnings after closing bell, posting a 22% increase in standalone revenue. Consolidated revenues rose 17% year over year to $16.86 billion. GAAP earnings per share for the quarter were $9.90, while non-GAAP earnings per share were $12.01.
Analysts had been expecting the company to report earnings of $12.28 per share on revenue of $16.8 billion for the December quarter. Although Google Inc (NASDAQ:GOOG)’s results fell a bit short, the stock was roughly flat in after-hours trading.
Q2 Hedge Funds Resource Page Now LIVE!!! Lives, Conferences, Slides And More [UPDATED 7/5 21:37 EST]
Simply click the menu below to perform sorting functions. This page was just created on 7/1/2020 we will be updating it on a very frequent basis over the next three months (usually at LEAST daily), please come back or bookmark the page. As always we REALLY really appreciate legal letters and tips on hedge funds Read More
Breaking down Google’s results
Google Inc (NASDAQ:GOOG) reported revenues of $10.55 billion for Google Sites and $3.52 billion in revenues for Google Network. Other revenues were reported to be $1.65 billion. International Google segment revenues were $8.77 billion.
The search giant reported 31% growth in aggregate paid clicks year over year and an 11% decline in average cost per click year over year. Google Inc (NASDAQ:GOOG) reported that traffic acquisition coses rose to $3.31 billion during the quarter.
Google approves share distribution
Today Google Inc (NASDAQ:GOOG) also said its board of directors approved a distribution of Class C capital shares as a dividend to shareholders with a dividend record date of March 27 and a payment date of April 2.
Also during the fourth quarter, the search giant paid $902 million in stock-based compensation, compared to $708 million in the same quarter a year ago.
Google sells Motorola to Lenovo
The company’s Motorola Mobile segment recorded revenues of $1.24 billion.
On Wednesday we heard reports that Google Inc (NASDAQ:GOOG) would sell its Motorola handset division to Lenovo Group Ltd. (OTCPINK:LNVGY) (HKG:0992) in a deal worth nearly $3 billion. Although Google doesn’t specifically say this in its earnings release, the company did confirm on its site earlier that it has indeed sold Motorola for $2.9 billion to Lenovo. The Chinese handset maker will pay $660 million in cash and $750 million in its own shares for Motorola, giving it a significant presence in the U.S. market.