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Google Shares Up after Blowout Earnings Report
Friday, 15 July 2011

Google smashed expectations with its latest quarterly report, eclipsing concerns about its mounting expenses and sending the Internet giant's stock up more than 10 percent.

The search engine and advertising company said its earnings excluding items shot up to $8.74 a share from $6.45 a year earlier.

Net revenue, which excludes fees paid to partner websites, jumped 36 percent to $6.92 billion.

Analysts expected Google to earn $7.85 a share on revenue of $6.55 billion, according to Thomson Reuters.

Analysts said the company benefited from growth in several of its businesses including mobile and online video.

"Google should be viewed as a growth company again this quarter,"  said Stifel Nicolaus analyst Jordan Rohan.


"The combination of mobile search, Android, ad exchange, YouTube, and the core search businesses, they're all doing well. Google is no longer a one-trick pony.''


"The number to focus on is really the GAAP earnings number. Google spent aggressively, hiring just as many people this quarter as they did last quarter.''

Net income increased 36 percent to $2.51 billion, or $7.68 a share.

Net revenue, which excludes fees paid to partner websites, jumped 36 percent to $6.92 billion.

Analysts expected Google to earn $7.85 a share on revenue of $6.55 billion, according to Thomson Reuters.

Analysts said the company benefited from growth in several of its businesses including mobile and online video.

"Google should be viewed as a growth company again this quarter,"  said Stifel Nicolaus analyst Jordan Rohan. "The combination of mobile search, Android, ad exchange, YouTube, and the core search businesses, they're all doing well. Google is no longer a one-trick pony.''

"The number to focus on is really the GAAP earnings number. Google spent aggressively, hiring just as many people this quarter as they did last quarter.''

Net income increased 36 percent to $2.51 billion, or $7.68 a share.

 


  

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