Google Shares Reach Record High

Google’s Q3 results have beaten analysts’ forecasts for the quarter, reaching $14.89bn (£9.2bn), or more than $1bn more than the $13.3bn seen at the same time last year.

Despite CPCs seeing a further drop of 8 per cent, largely down to the lower ad rates experienced as the business moves to mobile, paid clicks have grown by 26 per cent, its largest growth this year.

But operating losses are also growing at Motorola, increasing from $192m in Q3  last year to $248m in the last quarter. The company made an overall profit of $2.97bn and after the announcement, shares rose 6 per cent to a record $941.25.

Earnings call

Google passed the 1bn Android device milestone in September and CEO Larry Page said in an earnings call that 1.5m more are being switched on every day. He said 40 per cent of YouTube traffic now comes from mobile. Last year, that figure was 25 per cent. Two years ago, it was just 6 per cent.

Perhaps hinting at a Google smartwatch on the horizon, Page said: “People increasingly have more than one device. Screens are proliferating in the home as well as wearable screens like watches and Google Glass.” He also outlined a vision for a screen-agnostic OS. “We are closing in on our goal of a simple, beautiful and intuitive experience regardless of devices,” he said.

Page will no longer be leading Googles earnings calls, saying he is keen to focus more on the company.