The company's earnings slip 5 percent as Google ups its spending.
Google posted a 31 percent increase in year-over-year revenue for the first quarter of 2013. The search giant reported revenues of $13.97 billion. As revenues grow, CEO Larry Page is focusing on future products and Google's growth potential.
Online search giant Google exceeded forecasters' expectations with reported revenues of $14.42 billion for the last quarter of 2012. This is an increase of 36 percent over the comparable quarter in 2011, and an 8 percent increase over the previous quarter.
Google revenues topped $10 billion for the third quarter in a row, up 15 percent from the $10.65 billion reported in Q1 2012. The Q2 2012 $12.21 billion in revenue is another new record and reflects a 35 percent increase over Q2 of 2011.
Tech giant's Q1 earnings call reveals $10 billion in ad sales, as CPC falls again. Execs for the technology giant assigned multiple reasons for the price decline; shift towards mobile usage, increased targeting capabilities, and higher click volume.
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