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.

>To submit a news tip, send an email to: tips@thestreet.com.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

If you liked this article you might like

Why Alex Rodriguez Is Investing in Billionaires Warren Buffett and Jeff Bezos

Former NY Yankees Slugger Alex Rodriguez Reveals One Juicy Investment Tip

Why I Love Apple, Alphabet, Nvidia and These Other Stocks for September

Have Amazon, Google, Apple and Sony Flooded the Smart Speaker Market?