Google missed its earning estimates for the second quarter, but beats on revenue. For the June quarter, it is reported that they have earned $6.08 per shape on revenue of $15.96 billion dollars. Patrick Pichette, CFO of Google said,”With revenue up 22% year on year, at $16 billion dollars, Google had a great quarter.” He followed,” We are moving with a great momentum going on and we are excited to provide great experience to the users for a long time.” Google also announced that Nikesh Arora, Chief Business Officer of Google, is said to leave the company after nearly a decade. He decided to take a position at Soft Bank.
As more ads get served on mobile, cost-per-click continues to decline. This is a concern among the investors. It is reported that cost-per click has declined by about 6% from the same quarter a year earlier. It did remain constant on 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. Following the earnings report, both classes of Google stock — GOOG and GOOGL — were up by about 1% in after hours trading.