Earnings: Google Comes In Higher Than Expected After All; Revenue, Income Up
This story was written by Staci D. Kramer.
Despite all the qualms and lowered expectations from analysts, Google (NSDQ: GOOG) reported Q3 revenues of $5.54 billion, up 31 percent over last year, and net income of $1.56 billion, or earnings per share of $4.92. Google beat the average EPS estimate from analysts of $4.74 a share, according to FactSet Research (via MKTW). Compared sequentially, though, Google showed a modest 3 percent increase in revenue over Q2. Excluding traffic acquisition costs of $1.5 billion, net revenue was $4.04 billion. Google's shares snapped back this afternoon during the last hours of oday's session and are trading at $375.97. More to come.
Earnings release | Webcast 4:30 p.m. eastern | Slides
By Staci D. Kramer