Typically, Fridays on Wall Street are comparatively quiet, and often, they sag a bit lower than other weekdays. It's the end of the work week, volume is lower, and hardly any company announces spectacular, can't-miss news on a Friday. But if you're Google
, you're pretty pleased with how Friday treated you.
Google's stock was the talk of Wall Street as the trading week closed, with its per-share price soaring (and staying) beyond $1000. The company's third-quarter results were to thank for the nearly 14% single-day increase. Google has practically been printing money for years on end now, and it's showing no signs of slipping soon. “Google had another strong quarter with $14.9 billion in revenue and great product progress,” said Larry Page, CEO of Google. “We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device.”
Google reported consolidated revenues of $14.89 billion for the quarter ended September 30, 2013, an increase of 12% compared to the third quarter of 2012. Operating income sat at $3.44 billion for the quarter, while net income was pegged at $2.97 billion.
Google's revenue comes from a great variety of sources these days, and as its userbase grows via Android and Chrome installations, so too does advertising. According to its report, aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of its Network members, increased approximately 26% over the third quarter of 2012 and increased approximately 8% over the second quarter of 2013. That's the key takeaway as to where the surge in income is coming from.
Interestingly, Motorola Mobile segment revenues were slightly down compared to Q3 2012, despite the launch of the much-hyped Moto X.
All in all, it's clear that Google is still raking in the dough, which will likely enable it to continue trying wild new ventures such as Glass. It's almost a shame that we have to wait until next Spring for another Google I/O, but hopefully we'll see a few more Google innovations in the near future.