Google (GOOG) Crushes Q3 Views, Shares Rocket Higher
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Price: $889.42 --0%
EPS Growth %: +14.9%
Financial Fact:
Net income: 2.89B
Today's EPS Names:
SHLO, TAOM, SFL, More
EPS Growth %: +14.9%
Financial Fact:
Net income: 2.89B
Today's EPS Names:
SHLO, TAOM, SFL, More
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Google (NASDAQ: GOOG) blew away even the most bullish of analysts when reporting third-quarter results after the close Thursday.
The Internet giant reported revenue rose 33 percent to $9.72 billion. Ex-TAC, revenue of $7.51 billion easily beat the consensus of $7.21 billion.
Non-GAAP EPS in the third quarter were $9.72, up sharply from $7.64 last year and well above the Wall Street consensus of $8.74.
Revenue from outside of the United States totaled $5.3 billion, representing 55 percent of total revenue in the third quarter of 2011, compared to 54 percent in the second quarter of 2011 and 52 percent in the third quarter of 2010.
"We had a great quarter," said Larry Page, CEO of Google. "Revenue was up 33% year on year and our quarterly revenue was just short of $10 billion. Google+ is now open to everyone and we just passed the 40 million user mark. People are flocking into Google+ at an incredible rate and we are just getting started!"
Google-owned sites generated revenue of $6.74 billion, or 69 percent of total sales, in the third quarter of 2011. This represents a 39% increase over third quarter 2010 revenues of $4.83 billion.
Google's partner sites generated revenue through AdSense programs of $2.60 billion, or 27 percent of total revenue, in the third quarter of 2011. This represents an 18 percent increase from third quarter 2010 network revenue of $2.20 billion.
Google ended the quarter with $42.6 billion in cash, cash equivalents, and short-term marketable securities.
Traffic acquisition costs increased to $2.21 billion in the third quarter, compared to TAC of $1.81 billion in the third quarter of 2010. TAC as a percentage of advertising revenue were 24 percent in the third quarter of 2011, compared to 26 percent in the third quarter of 2010.
Other cost of revenue rose to $1.17 billion, or 12 percent of revenue, versus $747 million, or 10 percent of revenue, last year.
Operating expenses were $3.28 billion, or 34 percent of revenue. This compares to $2.19 billion, or 30 percent of revenue, last year.
Stock-based compensation was $571 million in the quarter, up from $380 million last year.
Shares of Google are up just over 5 percent in after-hours action Thursday.
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The Internet giant reported revenue rose 33 percent to $9.72 billion. Ex-TAC, revenue of $7.51 billion easily beat the consensus of $7.21 billion.
Non-GAAP EPS in the third quarter were $9.72, up sharply from $7.64 last year and well above the Wall Street consensus of $8.74.
Revenue from outside of the United States totaled $5.3 billion, representing 55 percent of total revenue in the third quarter of 2011, compared to 54 percent in the second quarter of 2011 and 52 percent in the third quarter of 2010.
"We had a great quarter," said Larry Page, CEO of Google. "Revenue was up 33% year on year and our quarterly revenue was just short of $10 billion. Google+ is now open to everyone and we just passed the 40 million user mark. People are flocking into Google+ at an incredible rate and we are just getting started!"
Google-owned sites generated revenue of $6.74 billion, or 69 percent of total sales, in the third quarter of 2011. This represents a 39% increase over third quarter 2010 revenues of $4.83 billion.
Google's partner sites generated revenue through AdSense programs of $2.60 billion, or 27 percent of total revenue, in the third quarter of 2011. This represents an 18 percent increase from third quarter 2010 network revenue of $2.20 billion.
Google ended the quarter with $42.6 billion in cash, cash equivalents, and short-term marketable securities.
Traffic acquisition costs increased to $2.21 billion in the third quarter, compared to TAC of $1.81 billion in the third quarter of 2010. TAC as a percentage of advertising revenue were 24 percent in the third quarter of 2011, compared to 26 percent in the third quarter of 2010.
Other cost of revenue rose to $1.17 billion, or 12 percent of revenue, versus $747 million, or 10 percent of revenue, last year.
Operating expenses were $3.28 billion, or 34 percent of revenue. This compares to $2.19 billion, or 30 percent of revenue, last year.
Stock-based compensation was $571 million in the quarter, up from $380 million last year.
Shares of Google are up just over 5 percent in after-hours action Thursday.
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