Google reported soaring revenues and profits on Thursday, with net earnings up 17 per cent in comparison to second quarter 2012.
The $ 3.2 billion in earnings, and the 19 per cent jump in overall revenues to $ 14.1 billion, fell short of market expectations. Shares slid as much as 5.6 per cent.
“Google had a great quarter,” said Larry Page, company chief executive. “The shift from one screen to multiple screens and mobility creates tremendous opportunity for Google.”
Google’s costs have climbed considerably, both in its advertising business and its cell phone subsidiary Motorola. Motorola’s losses climbed even more than in the same quarter of 2012. In addition, Google has spent more money on new development and marketing.