IDG News Service
Google reported a 19 percent increase in revenue for the first quarter, but results from its advertising business were mixed.
Revenue for the quarter ended March 31 was $15.42 billion, Google reported Wednesday. That was a healthy jump from last year but less than the $15.52 billion analysts had been expecting, according to a poll by Thomson Reuters.
Google’s earnings per share, excluding costs like those from the sale of its Motorola Mobility division, were $6.27 per share, which was better than last year but also lower than expected.
The results hurt Google’s share price in trading after hours. Its stock was down about 3 percent at the time of this report, to $541.13.
The number of paid clicks, or clicks on ads paid for by advertisers, climbed 26 percent from the first quarter last year, Google said. But the cost of those clicks, or the amount advertisers paid, dropped roughly 9 percent.
Subtracting traffic acquisition costs, or the money Google pays to partners that run its ads or direct traffic to its websites, the company’s net revenue was $12.19 billion.