After Google disappoints, Page points at future growth chances

Google's earnings fell, and the company missed Wall Street expectations, but the CEO sung an optimistic tune

By , IDG News Service |  IT Management

In addition, the commissions and fees Google pays to partners, known as Traffic Acquisition Costs (TAC), increased to $2.77 billion from $2.21 billion.

Stock-based compensation expenses also increased year on year, to $715 million from $571 million.

Meanwhile, Motorola Mobility, whose $12.5 billion acquisition Google closed in May, had an operating loss of $527 million on revenue of $2.58 billion. In addition, restructuring and related charges recorded in the Motorola business were $349 million, and the related tax benefits were $76 million.

Other Google executives joined Page in singing a happy tune, including CFO Patrick Pichette, who said he was pleased with the business' "growth trajectory." Pichette said Google's numbers were also adversely affected by "currency headwinds."

Nikesh Arora, Google's chief business officer, reiterated the mobile opportunity, and said the company's enterprise software business, including Google Apps, "continued to thrive" during the quarter.

Google is hard at work at improving its mobile advertising technology, Page said, in part to make it much easier than it is today for marketers to manage their mobile ad campaigns.

Google ended the quarter with $45.7 billion in cash, cash equivalents and short-term marketable securities.

Juan Carlos Perez covers enterprise communication/collaboration suites, operating systems, browsers and general technology breaking news for The IDG News Service. Follow Juan on Twitter at @JuanCPerezIDG.

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