Google (GOOG) Reports Blow-Out Third Quarter Results
GOOG Hot Sheet
Revenue Growth %: +24.5%Financial Fact:
Income from operations: 3.39B
Today's EPS Names:
TARO, BRLI, TLB, More
Search giant Google (NASDAQ: GOOG) did it again. The company blew away sky-high Wall Street estimates for its third quarter, and the company is pointing to even better times ahead.
After the close tonight, Google reported Q3 EPS of $5.89, ex-items, versus the analyst estimate of $5.40. The EPS number from Google also beat the 'street high' EPS estimates of $5.68. Revenue for the quarter rose to $4.38 billion, which compares to the estimate of $4.23 billion. Revenues were up 7% year-over-year despite the tough economy.
CEO Eric Schmidt, "While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us and now feel confident about investing heavily in our future."
On the conference call, the company said they will start stepping-up hiring, particularly in engineering and sales.
Google also indicated that their enterprise business is accelerating. They company also said they will focus more on acquisitions, and have looked at small search and display companies and are certainly looking for a larger business to buy. Google also indicated that android adoption is about to explode. On sore spot YouTube, Google said it is monetizing 1 billion video views per week and is pleased with its performance.
Shares of Google are up 2.7% to $544 after-hours --- a new 52-week high.
After the close tonight, Google reported Q3 EPS of $5.89, ex-items, versus the analyst estimate of $5.40. The EPS number from Google also beat the 'street high' EPS estimates of $5.68. Revenue for the quarter rose to $4.38 billion, which compares to the estimate of $4.23 billion. Revenues were up 7% year-over-year despite the tough economy.
CEO Eric Schmidt, "While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us and now feel confident about investing heavily in our future."
On the conference call, the company said they will start stepping-up hiring, particularly in engineering and sales.
Google also indicated that their enterprise business is accelerating. They company also said they will focus more on acquisitions, and have looked at small search and display companies and are certainly looking for a larger business to buy. Google also indicated that android adoption is about to explode. On sore spot YouTube, Google said it is monetizing 1 billion video views per week and is pleased with its performance.
Shares of Google are up 2.7% to $544 after-hours --- a new 52-week high.
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