Google Falls After Q2 Report

Worldwide Internet search leader Google GOOG released its fiscal second-quarter earnings results on Thursday after the closing bell. The company missed both Wall Street earnings and revenue estimates, sending the shares down 5 percent in late trade. Management Commentary “Google had a great quarter with over $14 billion in revenue – up 19% year-on-year,” said Larry Page, CEO of Google. “The shift from one screen to multiple screens and mobility creates tremendous opportunity for Google. With more devices, more information, and more activity online than ever, the potential to improve people's lives even more is immense.” Q2 Results The company reported net income of $3.23 billion or $9.54 per share, compared to $2.79 billion or $8.42 per share, in last year's corresponding period. Net income from continuing operations was $2.55 billion or $7.55 per share, compared to $2.83 billion or $8.56 per share, in last year's second-quarter. Adjusted earnings were $3.23 billion or $9.56 per share, down from $3.36 billion or $10.16 per share, in the year ago period. This missed Wall Street analysts' consensus EPS estimates of $10.78 by a wide margin. Total revenue in the period was $14.11 billion, a 19 percent increase over the $11.81 billion the company reported a year ago. This also came up short of analysts' consensus estimates of $14.42 billion.