After missing earning projections last quarter, Google stormed back and posted Q1 earnings that were substantially higher than Wall Street’s consensus estimates. The news shot shares of Google up more than 7 percent in extended-hours trading.
Revenue for Google was $2.25 billion, up 79 percent from a year earlier. Excluding traffic acquisition costs (or TAC) that the company shares with advertising partners (that’s us!), Google reported sales of $1.53 billion, ahead of the $1.44 billion that Wall Street analysts were expecting. Earnings came in at $2.29 a share, excluding the cost of stock-based compensation and some other charges. That was well ahead of the $1.98 per share that analysts had forecast for the company on this basis.
Google ended the first quarter with about $8.4 billion in cash but this figure does not include the $2.1 billion that the company raised from a secondary offering of stock earlier this month. One thing for sure, Google will have no problem paying us!
Google close today at $412 per share. You can read the rest of the financial numbers here.
Did you enjoy this post? Get John Chow Dot Com updates via email...
Stay up to date with all of John Chow’s tips for making money online and blog posts by subscribing via email. Your email will be kept private and never shared with anyone.
One of the most common complaint (or excuse) I hear from potential new bloggers is they don’t know how to install WordPress. Terms like FTP and CPanel are like a foreign language and setting up a database might as well be setting up the space shuttle for a launch. Because of the technology barrier, many would-be bloggers never start their blogs...