This afternoon Google has released their Q3 2012 earnings report — just like many others will be doing the next few days. However, they posted them mid-day during trading hours, something that usually doesn’t happen. That aside, things aren’t looking quite as good as they should for the folks from Mountain View.
Google posted their Q3 operating income and overall earnings call and while they still managed to have an operating profit of $2.18 billion, that number fell well below expectations and what many predictions had set for Google. Third quarter profit of $2.18 and $6.53 a share was actually down year-over-year with previous postings at $2.73 billion and $8.33 a share last year.
The acquisition of Motorola brought in $2.58 billion in revenue, but due to cuts, restructuring and many other reasons that actually net them a loss of $527 million. Meh, only half a billion. Pretty tough times from Motorola but hopefully that will soon be changing.
Analysts predicted Google’s Q3 would see a net revenue of around $11.86 billion, but the actual results came in around $11.33bn after we exclude the losses from Motorola and other acquisitions. Clearly missing expectations by a decently large chunk. While this all sounds bad, it isn’t quite as bad as it looks. Overall Google’s net revenue still grew from $7.5bn last year, to the $11.33bn mentioned above. So while they didn’t hit predictions and forecasts — they’re still doing quite well.
More details will be revealed when the “official” earnings call happens later today, as this was a premature release.