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Revenue was $14.10 billion, well ahead of most estimates as few modeled in the $2.58 billion that came from Motorola. Of the Moto revenue, there was $1.78 billion from mobile and $797 million from the home segment.
Paid clicks increased 33% from the year ago period and were up 6% on a sequential basis. We have seen in the past when the number of clicks increases like that, the cost per click will tend to come down. Costs per click decreased 15% on an annual basis and fell 3% sequentially.
With Moto in the results we saw significantly higher cost of revenues. That line item increased to 27% of revenues from 12% of revenues in the year ago period.
Amortization Expenses jumped significantly as did Stock Based Compensation. Operating expenses were flat with year ago levels.
The bottom line came in well below estimates with EPS of $7.35 being $1.53 below the Zacks Consensus Estimate of $8.88. That works out to be a 17% negative earnings surprise.
The company will hold its regularly scheduled conference call at 4:30 EST.
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