Google 1Q13 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

$GOOG Earnings Call Notes

“Q1 revenue up 31% year-on-year to $14 billion”

“having to see Motorola’s upcoming products myself. I’m really excited about the potential there. In just under a year, they have accomplished a lot and have impressive velocity and execution.”

“as CEO it’s actually super important to keep focused on the future. Companies tend to get comfortable doing what they’ve always done with a few minor tweaks. It’s only natural to want to work on other things you know, but incremental improvement is guaranteed to be obsolete over time, especially in technology, for our history has shown that there is a lot of revolutionary change.”

“I get chills when I use a product that is the future, and that happens when I use Glass.”

“There are so many opportunities in the world to create technology that makes people’s lives better. We are still only at 1% of what’s possible; we are really just getting started.”

“58% of the Fortune 500 are now actively using abate enterprise cloud product from Google.”

“If you look at most companies, they will never do anything different and eventually they run into problems for that reason…So, we have nothing to say differently about our general philosophy of 80% on our core things…we’ll add resource to the new things as we’re able to and as they show success…as a big shareholder of Google, I’m certainly not worried about the expense…I’ll be more worried that we don’t do those things fast enough and build on revolutionary change that happens in the technology industries.”

“we would love to find businesses much bigger than our entire current business to invest in, but I think there’s only a very small number of such companies that even exist. So I think, we look at places where we can provide a lot of – on Fiber we look at places where we can provide products that can make really big difference in peoples’ lives and we can make a lot of money and resources doing it. And I think it certainly meets that criteria”

“I believe in the next few years, we will see connected TVs everywhere and we’ll be able to address a TV using IP. When that begins to happen, I think the products we have in place, where we can dynamically serve ads, which are more personalized, which look more like information on display platforms or video platforms is going to be very relevant.”

[analyst comment] “we had a chance to try out Glass a few weeks ago and we think you guys really nailed it, so congrats to the team”

“Look I – it’s very clear, we care about revenue growth, we care about profitability, and as we’ve said before, right, we’re not in the business of money losing businesses…So if you have business for us, that can be a $20 billion business that has a much lower margin than ours, but kind of contribute a couple of billion for the bottom line of the company, what’s not to like, right, especially if it’s rather capital light…So the real trick there is to keep focused on dollar margin pools, dollar margin in revenue and then not worry too much about where the aggregate shows up because it’s all good for the shareholders.”