Google Reports Quarterly Revenue Growth

1:32 PM PST 07/17/2014 by Natalie Jarvey
AP Images
Google CEO Larry Page

The Mountain View search giant said revenue grew 22 percent to $15.96 billion during the second quarter.

Google shares were trading slightly up after the closing bell when the tech firm announced second-quarter revenue that exceeded analyst expectations. 

Shares were up more than 2 percent, or about $13, in after hours trading.

The Mountain View search giant reported adjusted second quarter earnings of $6.08 per share, up from $4.96 per share in the same period last year, on revenue of $15.96 billion, a 22 percent increase over the second quarter last year. 

Earnings were below the $6.23 that Wall Street was expecting but revenue beat the estimated $15.6 billion.

CFO Patrick Pichette noted: "We are moving forward with great product momentum and are excited to continue providing amazing user experiences, with a view to the long term." 

Google also used the quarterly earnings to announce an executive shuffle with longtime employee Nikesh Arora, currently chief business officer, leaving for partner SoftBank. Omid Kordestani, a senior advisor to CEO Larry Page and the founders, will step into the role.

 

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