Google CEO Larry Page Google's revenues came in light in Q2 2013, at $14.11 billion instead of $14.4 billion. Here's why: The ongoing, historic decline in click prices is faster than the growth in total paid clicks. As we've noted before, back in 2011, something significant happened to Google — the cost-per-click went into a seemingly permanent decline. (See chart below.) The total number of paid clicks that Google gets continues to go up, but Google gets paid less for each one. In other words, Google's rock is still rolling up the hill but it takes a lot more energy to maintain that momentum than it used to. So what happened in Q4 2011? That was the point at which the number of...
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