“I’m sorry for the scramble earlier today,” Google CEO Larry Page told analysts on a conference call. And that was that regarding the uproar today after the company’s earnings were prematurely released — resulting in a temporary halt in trading. Execs continued to cheer-lead, especially as they talked up progress in rolling out Android-powered devices. “Most people thought we were nuts” to develop the operating system, Page — whose voice is hoarse — said, adding that there are now a half-billion Android-powered devices. He’s also enthusiastic about Google TV, saying that “it’s great to have a real browser on your television” and that the company is “working hard to get distribution for YouTube, for Chrome and for the Internet as a whole on television screens. We’re very excited about that, we’re still in the early stages of that.” Page says that the company is “in the early stages” of rolling out Google Fiber — the state-of-the-art video and broadband service it recently introduced in Kansas City. “I’m excited about the user experience there.” Meanwhile YouTube “continues to grow like crazy,” he says. “The recent video with the horse dancing, Gangnam Style, has 500M views….If you’re the provider of content it’s an amazing thing.” Despite the execs’ abundant optimism, Google shares are up less than 1% in after-market trading.
The leading Internet search company says its 2Q net income of $2.5 billion is up 36.1% vs the same period last year on revenues of $9 billion, up 32%. Earnings, at $8.74 a share not counting employee stock costs, handily beat analyst expectations of $7.84. Most of the growth came …
3rd UPDATE: Ever since it was announced last week that Google CEO Eric Schmidt would be stepping aside in April and that co-founder Larry Page would take over the day-to-day operation of the search giant, everyone’s been wondering if Schmidt would make the move to TV. Today in Germany, at the Digital-Life-Design conference, he addressed those rumors simply by keeping the door open. When asked how long he plans to stay at Google, he responded, “As long as it’s exciting.”
2nd UPDATE: Just days after announcing that he’ll be stepping aside as Google’s CEO, Eric Schmidt is getting a pretty big bonus. Enormous, actually. He’s set to pocket $100 million as he steps into another role, with co-founder Larry Page taking over the day-to-day leadership. The whopping amount is a comprised of stock options and vests over four years. The $100 million award also comes as a Securities and Exchange Commission filing last week reveled Schmidt could be selling up to $335 million in stock — and also revealed how much stock he has actually amassed over his 10 years in the top job: 9.2 million shares.
UPDATE: Big Media moguls only can wish they’d reap a stock bonanza like this. In a regulatory filing with the Securities and Exchange Commission, it was revealed that Google Chief Executive Eric Schmidt, stepping aside in April after 10 years as CEO, will be selling what could amount to be $335 million in stock. As of the end-of-year 2010, Schmidt owned 9.2 million shares in Google. The company’s stock closed at $626.77 a share on Thursday. So what he’s planning to unload represents only about 6% of his total stock ownership. In Q4 earnings reported on Thursday, revenues rose 26% growth vs last year. Co-founder Larry Page will be taking over the CEO role.