INTERNET GIANT Google reported its third quarter 2013 earnings on Thursday, smashing Wall Street estimates with $14.98bn in revenue.
Analysts hoped that Google would rake in $14.8bn during the third quarter, and the firm did that and more. Google reported $14.98bn in revenue for the three month period, up from the second quarter and a $1.5bn increase year on year. That translated to a profit of $2.97bn for the quarter, up from $2.18 billion in the third quarter last year.
Speaking on the earnings call, Google CEO Larry Page was pleased with the company's latest numbers. He said, "Google had another strong quarter with $14.9bn in revenue and great product progress. We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device."
Page also threw some weight into the rumours that Google is planning a smartwatch device, highlighting the impact of a "multi-screen world". He added, "Research has shown that people tend to overestimate the impact of technology in the short term, yet underestimate the scale of change longer term. For years everyone talked about the multi-screen world. Now it's arrived. But at a scale few imagined.
"People increasingly have more than one device. Screens are proliferating, in the home as well as wearable screens like watches and Google Glass."
While Google made a lot of cash, the firm's Motorola Mobility unit continued to struggle. The phone maker's revenues fell $600m year on year and the firm's loss grew 24 percent in the quarter to $248m.
Page remained optimistic however, and said it's still early days for Motorola. He added, "This quarter we also launched the Moto X, the first phone Motorola has developed and produced since Google acquired the company. It's superfast and clean and the voice features are great.
"So while it's still early days, Dennis and the team have already transformed Motorola's product quality. Now they are working to build out marketing and distribution."
Beyond Motorola, Google didn't offer much insight into the world of Android, despite Page saying that the company is now seeing 1.5 million new devices activated every day.
Following Google's earnings call on Thursday, the firm's share price shot up five percent. µ
Sign up for INQbot – a weekly roundup of the best from the INQ