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Google, Inc. (GOOG) Misses Q2 EPS by 17c

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July 17, 2014 4:10 PM EDT

Google, Inc. (NASDAQ: GOOG) reported Q2 EPS of $6.08, $0.17 worse than the analyst estimate of $6.25. Revenue for the quarter came in at $12.67 billion versus the consensus estimate of $12.32 billion.

The company also announced that Nikesh Arora, Google's Chief Business Officer, will be leaving Google after almost ten years at the company to join SoftBank, as Vice Chairman of SoftBank Corp. and CEO of SoftBank Internet and Media. Omid Kordestani, who was business founder and led the sales teams for many years, will be stepping in to lead the business organization for now.

Paid Clicks - Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of our Network members, increased approximately 25% over the second quarter of 2013 and increased approximately 2% over the first quarter of 2014. Sites paid clicks, which include clicks related to ads we serve on Google owned and operated properties across different geographies and form factors including search, YouTube engagement ads like TrueView, and other owned and operated properties like Maps and Finance, increased approximately 33% over the second quarter of 2013 and increased approximately 6% over the first quarter of 2014. Network paid clicks, which include clicks related to ads served on non-Google properties participating in our AdSense for Search, AdSense for Content, and AdMob businesses, increased approximately 9% over the second quarter of 2013 and decreased approximately 5% over the first quarter of 2014.
Cost-Per-Click - Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of our Network members, decreased approximately 6% over the second quarter of 2013 and remained constant from the first quarter of 2014. Cost-per-click for Google sites decreased approximately 7% over the second quarter of 2013 and decreased approximately 2% over the first quarter of 2014. Network cost-per-click decreased approximately 13% over the second quarter of 2013 and increased approximately 3% over the first quarter of 2014.
TAC - Traffic acquisition costs, the portion of revenues shared with Google's partners, increased to $3.29 billion in the second quarter of 2014, compared to $3.01 billion in the second quarter of 2013. TAC as a percentage of advertising revenues was 23% in the second quarter of 2014, compared to 25% in the second quarter of 2013.
The majority of TAC is related to amounts ultimately paid to our Network members, which totaled $2.40 billion in the second quarter of 2014. TAC also includes amounts ultimately paid to certain distribution partners and others who direct traffic to our website, which totaled $893 million in the second quarter of 2014.

Cash - As of June 30, 2014, cash, cash equivalents, and marketable securities were $61.20 billion, which excludes cash classified as held for sale, compared to $58.72 billion as of December 31, 2013.

Headcount - On a worldwide basis, we employed 52,069 full-time employees (48,584 in Google and 3,485 in Motorola Mobile) as of June 30, 2014, compared to 49,829 full-time employees (46,170 in Google and 3,659 in Motorola Mobile) as of March 31, 2014.
For earnings history and earnings-related data on Google, Inc. (GOOG) click here.

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