Speaking in the Google Q1 2015 earnings call, CFO Patrick Pichette indicated Nexus revenues declined this quarter.
Revenues from the Play Store (and now Google Store) are such a small portion of Google's business that they're clumped into an "other revenues" category each quarter, but that doesn't stop the company from reporting how they impact the bottom line. In Q1 2015 the other revenues segment actually grew substantially, despite an actual decline in earnings from selling Nexus devices. Pichette said:
Other revenues grew 23 percent year-over-year to $1.8 billion, and was down 2 percent quarter-over-quarter, driven really by year-over-year growth in the Play Store, offset by decline in Nexus, and the [previously-stated] FX impact.
This honestly comes as little surprise when you look at the transition the Nexus line has taken from this time last year. For the first half of 2014 Google was still selling the very affordable Nexus 5 at a starting price of $349, and Nexus 7 at just $229. This quarter your Nexus choices are simply the Nexus 6 at $649 and Nexus 9 at $399 and up. (And we doubt the Nexus Player is any large portion of sales.)
Those high prices combined with the larger sizes of both devices haven't combined into higher sales, it seems. Considering how small a portion of Google's business this is we're not sure what change, if any, this could lead to, but we're sure Google's looking into the numbers.