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Google's Tax Sheltered Earnings Miss

Falling expense is an ironic twist to Google's tax sheltered earnings beat, given the impact of credits to put capital towards research and development.

In a preliminary income statement, Google reported research and development expense rose 27% to $1.8 billion. That R&D spending, however, also included $380 million in stock based compensation, a rise from year-ago levels, according to the disclosure.

An earnings release notes the company's tax benefit from rising stock-based compensation was $149 million.

According to a preliminary balance sheet, the company's vaunted cash stockpile rose about $2 billion to $50 billion.

For more on Google's earnings, see what analysts are saying about the company's beat and its falling gross margins.

Overall, Google reported earnings on Thursday of $11.58 a share on $13.97 billion in revenue. Analysts polled by Thomson Reuters were expecting $10.66 per share on $14.09 billion in revenue.

-- Written by Antoine Gara in New York

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