Google posts “strong start” to 2013

Google has recorded a strong first quarter during 2013, despite posting hit and miss revenue expectations.

Announcing US$13.97 billion in revenues, the internet search giant enjoyed an increase of 31% compared to the same period in 2012, including $11.58 per share.

But while beating analyst expectations on earnings, the company slightly fell short of Wall Street forecasts, a feat which didn't appear to bother CEO Larry Page.

“We had a very strong start to 2013, with $14.0 billion in revenue, up 31% year-on-year," he said.

“We are working hard and investing in our products that aim to improve billions of people's lives all around the world.”

Noticeably, the company now has $50 billion in cash for both acquisitions and investments, which despite being half of Apple's cash pile, it should serve Google well when buying up tech talent across the industry.

Financial highlights:

Google Revenues (advertising and other): Google revenues were $12.95 billion, or 93% of consolidated revenues, in the first quarter of 2013, representing a 22% increase over first quarter 2012 revenues of $10.65 billion.

Google Sites Revenues: Google-owned sites generated revenues of $8.64 billion, or 67% of total Google revenues, in the first quarter of 2013. This represents an 18% increase over first quarter 2012 Google sites revenues of $7.31 billion.

Google International Revenues: Google revenues from outside of the United States totaled $7.1 billion, representing 55% of total Google revenues in the first quarter of 2013, compared to 54% in the fourth quarter of 2012 and in the first quarter of 2012.

Paid Clicks: Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of our Network members, increased approximately 20% over the first quarter of 2012 and increased approximately 3% over the fourth quarter of 2012.

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 4% over the first quarter of 2012 and decreased approximately 4% over the fourth quarter of 2012.

Motorola Mobile Revenues (hardware and other): Motorola Mobile revenues were $1.02 billion, or 7% of consolidated revenues in the first quarter of 2013.

Motorola Mobile Operating Loss: GAAP operating loss for Motorola Mobile was $271 million, or -27% of Motorola Mobile revenues in the first quarter of 2013. Non-GAAP operating loss for Motorola Mobile in the first quarter of 2013 was $179 million, or -18% of Motorola Mobile revenues.

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