Google Delivers Above-Consensus Profit

NEW YORK (TheStreet) --Google (GOOG) comfortably beat Wall Street's earnings forecast in its second-quarter results on Thursday, although revenue came in slightly below expectations.

Excluding items, Google earned $10.12 a share in the June-ended period, up from $8.74 in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of $10.04 a share.

The search giant's revenue, excluding traffic acquisition costs, came in at $8.36 billion, just below the consensus view of $8.41 billion.

Google's standalone revenue, which excludes revenue from its recent Motorola Mobility acquisition, was $10.96 billion, up from $9.03 billion in the prior year's quarter.

"Google standalone had a strong quarter with 21% year-on-year revenue growth, and we launched a bunch of exciting new products at I/O - in particular the Nexus 7 tablet, which has received rave reviews," explained Google CEO Larry Page, in a statement. "This quarter is also special because Motorola is now part of the Google family, and we're excited about the potential to build great devices for users."

Total Motorola revenue was $1.25 billion in the quarter, with $843 million and $407 million, respectively, coming from the company's mobile and home segments. Overall, Motorola accounted for 10% of Google's total consolidated revenue of $12.21 billion during the second quarter.

Google's Cost-Per-Click (CPC) decreased approximately 16% year-over-year but increased 1% compared to the first quarter.

Shares of Google rose 2.21% to $606.17 in extended trading.

--Written by James Rogers in New York.

Follow @jamesjrogers

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