Google, Microsoft both post big profit jumpsTech giants Google and Microsoft reported their quarterly earnings on Thursday, showing big jumps in profits thanks to solid performance in their core divisions.
The Mountain View-based search company reported "a very strong start to 2013," according to CEO Larry Page. Google's revenue for the quarter came in at $13.97 billion, up 31 percent year-over-year. Quarterly profit stood at $3.35 billion, up from $2.89 billion for the same quarter in 2012.
The search leader's rate of paid clicks was up 20 percent from a year previous, while the price advertisers pay per click was down about four percent. Google's big moneymaker, advertising revenue, was up 16 percent.
Google's Motorola division continued to lose money in the last quarter. Motorola Mobile posted an operating loss of $271 million on revenues of $1.02 billion. Google is selling Motorola's set-top box business to Arris Group for $3.25 billion in a deal that is expected to close some time in April.
Thomson Reuters-surveyed analysts had projected that Google would post earnings of $10.66 per share and revenues of $14.31, according to The Wall Street Journal. Shares closed down 2.13 percent on Thursday at $765.91, though they were up 1.22 percent in after hours trading as of press time.
Software giant Microsoft also posted a boost in profits for the past quarter, with third-quarter earnings at $6.06 billion up 19 percent year-over-year. Microsoft saw revenues increase 18 percent year-over-year to $20.49 billion.
Microsoft's Business Division saw revenues of $6.32 billion, a year-over-year increase of eight percent, while the Server & Tools division grew 11 percent to $5.04 billion in revenue. Revenue for the Windows Division was up 23 percent year-over-year to $5.7 billion, though adjusted they're flat year-over-year at $4.6 billion.. The Entertainment and Devices Division which includes Microsoft's Xbox console saw revenues up 56 percent year-on, with $2.53 billion generated. The company's Online Services Division saw $832 million in revenue, up 18 percent year-over-year.
Microsoft's CFO Peter Klein will be leaving at the end of June, the company announced in its conference call. The company will name a new CFO from within its current financial team within the next few weeks.
AppleInsider will be providing immediate coverage of Apple's quarterly results and conference call on April 23.