Google Has a Decent Q3, and Wall Street Is Okay With That

Google had net revenue of $11.92 billion in the third quarter and earnings per share of $10.74, it said today.

Though estimates varied this quarter, analysts expected net revenue of $11.9 billion and earnings per share of $10.35.

In after-hours trading immediately following the release, Google shares are up 5 percent to $933.

Last quarter, Google had net revenue of $11.1 billion and earnings of $9.56 per share, which was below what analysts had expected. The numbers for the same period a year ago were $11.33 billion and $9.03 per share.

As for broad strokes on the nitty gritty details, paid clicks were up, cost per click was down and traffic acquisition was up, though not as an overall percentage of advertising revenue.

Motorola Mobile accounted for $1.18 billion in revenue, which was down from $1.78 billion in the third quarter of 2012.

On the analyst call after the announcement, Larry Page had something interesting to say:

“We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device.”

This has been Page’s mandate since he took over as CEO last year, simultaneously streamlining Google’s products and unifying what’s left. Their design game has improved drastically as well so it’s going to be an interesting future for Mountain View in short-to-medium term. Here's the transcript for what Page said today.