Google Reports Revenue of $15.96 Billion In Q2. That’s 6.4x Dangote Cement Revenue For All Of 2013

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Google missed its earnings estimates for the second quarter, but beat on revenue.

The search giant reported earnings of $6.08 per share on revenue of $15.96 billion for the June quarter, missing Wall Street estimates for earnings of $6.24 per share, but coming in ahead of estimates for revenue of $15.62 billion.

“Google had a great quarter with revenue up 22% year on year, at $16.0 billion”, said Patrick Pichette, CFO of Google. “We are moving forward with great product momentum and are excited to continue providing amazing user experiences, with a view to the long term.”

In its release, Google also announced that Nikesh Arora, its chief business officer, is leaving the company after nearly a decade to take a position at SoftBank.

Cost-per-click, a point of focus among investors, continued to decline as more ads get served on mobile. Google reported that the average cost-per-click declined by about 6% from the same quarter a year earlier, though it remained constant on a quarter-over-quarter basis.

Google now has more than $61 billion in cash and marketable securities, up from $58.7 billion in the December quarter. The number of full-time employees worldwide jumped above 50,000 in the quarter, hitting 52,069.

Both classes of Google stock — GOOG and GOOGL — were up by about 1% in after hours trading following the earnings report.

Mashable