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Shares of online giant Google (NASDAQ:GOOG)(NASDAQ:GOOGL) rose just more than1% in after-hours trading. Google just released mixed results for the second quarter of 2014, along with a surprising management change.

First, the numbers. Google's revenue rose 22% year over year, stopping at $16.0 billion. Adjusted earnings increased 23%, to $6.08 per diluted share. Analysts were looking for earnings around $6.24 per share on $15.6 billion in sales. Google missed one target but exceeded the other. The company has never provided earnings or sales guidance for upcoming quarters or fiscal years, making the analysts' jobs a little harder.

Google's growth was led by 23% higher revenue from company-owned properties. The network of partner sites only delivered 7% higher sales. The catch-all segment for other revenues jumped 53% higher, but from a far smaller revenue base than the other reported operations. This includes non-advertising revenue sources such as technology licensing, hardware sales, and Android apps. Other sales now account for 10% of Google's total revenue, up from 8% in the year-ago period.

The number of paid clicks increased 25% year over year, while the average cost-per-click decreased 6%. Traffic acquisition costs fell to 23% of advertising revenues, down from 25% a year ago. Google reported cash equivalents and marketable securities in the total amount of $61.2 billion, a 12% increase from $54.7 billion at the end of the year-ago quarter.

"We are moving forward with great product momentum and are excited to continue providing amazing user experiences, with a view to the long term," said Google CFO Patrick Pichette in a prepared statement.

As part of this report, Google also announced that longtime Chief Business Officer Nikesh Arora is leaving the company to pursue new opportunities. Specifically, Arora will join Japan-based wireless carrier SoftBank as vice chairman, also grabing the CEO title at the SoftBank Internet and Media subsidiary.

Google co-founder and former sales division leader Omid Khordestani will shoulder Arora's duties until further notice.

Anders Bylund owns shares of Google (A and C shares). The Motley Fool recommends Apple and Google (A and C shares). The Motley Fool also owns shares of Apple and Google (A and C shares). Try any of our Foolish newsletter services free for 30 days.

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