Google announced today that it brought in $15.96 billion in revenue for the second quarter of 2014, an increase of 22 percent from the same period a year ago. That beats expectations of $15.61 billion in quarterly revenue from analysts surveyed by Thomson Reuters.
The Mountain View-based tech giant also reported earnings of $6.08 a share, below analyst expectations of $6.24 a share. This is the second quarter in a row that Google has missed Wall Street’s earnings expectations. Google reported a net profit of $4.18 billion, compared to $3.36 billion in the year-ago quarter.
Google’s paid clicks, which include clicks on advertisements served to Google sites and sites in its ad network, were up 25 percent year-over-year, and about 2 percent quarter-over-quarter. Cost per click, which counts how much Google gets paid every time someone clicks on one of its ads, is down 6 percent year-over-year, but remained roughly flat from the first quarter of this year, which is a positive sign for Google’s overall business.
In addition to the financial news, the company revealed that Nikesh Arora, its Chief Business Officer, will be departing to serve as the Vice Chairman of Softbank, and CEO of Softbank Internet and Media. Omid Korestani, who currently serves as a Senior Advisor at Google, will be taking over for Arora, at least temporarily.
Korestani joined the company in 1999, and was originally in charge of Google’s business operations. Prior to his work at Google, he served as the Vice President of Product Management at Hewlett-Packard and the Vice President of Business Development at Netscape.
The news comes just two days after Google announced that Alan Mulally, the former CEO of Ford, would be joining the company’s board of directors. Mulally, a former Boeing exec, was reportedly one of the top candidates to become CEO of Microsoft, and retired from the automaker earlier this month.
Google’s financial data for the quarter is embedded below.
