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Google reported earnings of $9.56 per share for the second quarter, missing analyst estimates of $10.79 per share.  The company reported revenue of $14.11 billion,  below analyst estimates of $14.42 billion.  Shares are down 5 percent in after hours trading.

Google reported its latest figures on its average ad pricing, showing that it continued to decline.  Google’s average price, or cost per click to advertisers, declined 6 percent compared with the second quarter last year, that was worse than expected as more people click on mobile ads from their smartphone and tablets, driving down average price paid for a marketing link.   Average cost per click is also down 2 percent over the first quarter of 2013.  The trend indicates that marketers are starting to pay more for the  ads that Google distributes to smartphones and tablet computers. Mobile ads generate less money than those viewed on the larger screens of laptop and desktop computers

Google said its aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of its Network members, increased approximately 23% over the second quarter of 2012 and increased approximately 4% over the first quarter of 2013.

Investors will be listening closely to Google conference call to hear about the company’s new products and plans.  Google plans to spend up to $500 million in marketing its new Moto X smartphone, a device it has collaborated on with Motorola, but may face difficulty in a crowded marketplace where Nokia and Blackberry have struggled to gain ground.  However, Google does have a few major carriers lined up to the sell the phones including AT&T, Sprint and T-Mobile.

Google is reportedly in talks with media companies to find a way to bring traditional television to an unspecified Internet TV service. The planned service is unique because it would reportedly bring live television streaming to users in much the same way that cable does—whereas many of the television-viewing options that have taken root over the last few years, like, Hulu, Netflix, and Amazon Instant, offer their wares to customers on-demand.

Google recently made some changes to its products.  Google Maps, for example, recently got an overhaul in light of its recent $1.1 billion acquisition of Waze including an explore feature and enhanced navigation.  Google also recently launched “All Access,” a streaming music service that is its alternative to Pandora and Spotify.

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