Jul 18 AT 8:24 AM Nick Sarafolean 0 Comments

Google releases Q2 earnings, better than expected

google logo generic Image via: Robert Scoble with Creative Commons

Google has released its Q2 earnings with a total net income of $3.42 billion, up from last year’s earnings. Total revenue was over $16 billion, a 22% increase over Q2 2013. Nearly $11 billion of the total revenue was brought in from Google sites, which is a good indicator of how many people use Google sites. Employment numbers have gone up as well, with 52,069 people currently employed by Google. This is a significant bump from last year where we saw Google employing 49,829 people.

A large management change was also announced during the earnings report. Nikesh Arora, Google’s Chief Business officer, will be leaving Google to pursue a position at SoftBank. Arora will carry on at SoftBank as vice chairman of SoftBank Corp. and CEO of SoftBank Internet and Media.

Google’s cash on hand is up to $61.2 billion, an increase from $58.72 billion last December. Note that this excludes cash classified as held for sale. In short, Google has plenty of money to continue to make large purchases and acquisitions. After the earnings call, Google shares jumped by 1.2%, indicating that investors are pleased with the report.

Source: Google

A nerd at heart, Nick is an average person who has a passion for all things electronic. When not spending his time writing about the latest gadgets, Nick enjoys reading, dabbling in photography, and experimenting with anything and everything coffee. Should you wish to know more about him, you can follow him on Twitter @nsarafolean.

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