Alphabet Inc C GOOG
Q2 2013 Earnings Call Transcript

Transcript Call Date 07/18/2013

Operator: Good day, ladies and gentlemen and welcome to the Google Inc.'s, Second Quarter 2013 Earnings Conference Call. Today's call is being recorded.

At time I would now like to turn the call over to Willa Chalmers, Investor Relations Manager. Please go ahead, ma'am.

Willa Chalmers - IR: Thank you, Jami. Good afternoon, everyone, and welcome to today's second quarter 2013 earnings conference call. With us are Larry Page, Chief Executive Officer; Patrick Pichette, Senior Vice President and Chief Financial Officer; Nikesh Arora, Senior Vice President and Chief Business Officer.

Also, as you know, we distribute our earnings release through our Investor Relations website located at So please refer to our IR website for our earnings releases, as well as the supplementary slides that accompany the call. You can also visit our Google+ Investor Relations page for the latest Company news and updates. So please check it out. This call is also being webcast from A replay of the call will be available on our website later today.

Now, let me quickly go over the Safe Harbor. Some of the statements that we make today may be considered forward-looking, including statements regarding Google's future investments, our long-term growth and innovation, the expected performance of our businesses, and our expected level of capital expenditures. These statements involve a number of risks and uncertainties that could cause actual results to differ materially. Please note that these forward-looking statements reflect our opinions only as of the date of this presentation and we undertake no obligation to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events.

Please refer to our SEC filings for a more detailed description of the risk factors that may affect our results. Please note that certain financial measures that we use on this call, such as operating income and operating margin, are expressed on a non-GAAP basis and have been adjusted to exclude charges related to stock-based compensation. We have also adjusted our net cash provided by our operating activities to remove capital expenditures, which we refer to as free cash flow. Our GAAP results and reconciliations of non-GAAP to GAAP measures can be found in our earnings press release.

With that, I will now turn the call over to Larry.

Larry Page - CEO: Hello, everyone, and thanks for joining our call this afternoon. Google had a great quarter, over $14 billion in revenue, up 19% year-on-year; amazing performance for a Company that has yet to celebrate its 15th birthday.

We live in a world of abundant computing, with multiple operating systems and increasing numbers of devices. It is a very different environment from when Google started. There was essentially one OS and one device category, the PC. These kind of changes don't happen that often, once a decade, maybe even less frequently. But the shift from laptop to mobiles, from one screen to multiple screens creates tremendous opportunity for Google.

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