Google’s Q1 raked in $14 billion, but Motorola still leaking money
Google has just announced its operating numbers for the first quarter of 2013. The company beat market expectations, of course, as it was able to pull in about $14 billion in revenue, up 31% year-on-year. Of that, the company was able to pocket about $3.39 billion, a 16% increase year-on-year, which adds to the total of $50.1 billion cash and liquid assets Google has. That’s a whole lot of dough coming from a lot of different areas, but where that money isn’t coming from is Google’s $12.5 billion best friend Motorola Mobility.
The mobile smartphone manufacturer pulled revenue of $1.02 billion, but it wasn’t able to profit as it ended up losing about $179 million. That may seem like a drop in the bucket for how much Google has made, but that’s still a significant loss no matter how you spin it. The company has been on a downward slope for quite some time, with its smartphones failing to entice customers over options from the likes of Apple, Samsung and HTC. Google and Motorola hopes for all of that to change this year, though, as the two have been collaborating on what we know to be the “X Phone”.
The earnings call is going on right now, and we’ll be sure to extract all of the juicy bits if there are any. Stay tuned, and hit the source link for the rest of Google’s numbers if you care about the whole kit and kaboodle.
[via Google]