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The Internet giant reported a second quarter net income of $3.23 billion with earnings of $9.54 per share. Non-GAAP earnings were $9.56 per share on a consolidated revenue of $14.11 billion, up 19 percent annually.
But traffic acquisition costs rounded out to $3.01 billion, or 25 percent of advertising revenues.
Thus, revenue minus TAC was $11.1 billion.
But Wall Street was looking for earnings of roughly $10.78 per share on a revenue of $14.42 billion.
Google asserted that Q2 revenue would have been $177 million higher if “foreign exchange rates remained constant from the first quarter of 2013 through the second quarter of 2013.”
For the third quarter, Wall Street is expecting Google to deliver a revenue of $15.03 billion with earnings of $11.11 per share.
Google did not provide third quarter guidance in its earnings report published after the bell on Thursday, but it is expected to be revealed during the conference call with analysts and investors at 1:30PM PT/4:30PM PT.
Here are some of the big numbers to know from Google’s Q3:
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Source: Associated Press