Google (GOOG) Trades Higher After Better Qtr Results
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Shares of search giant Google (Nasdaq: GOOG) are up over 7%, to $380, in after-hours action after the company reported better-than-expected Q3 results.
Google reported Q3 non-GAAP EPS of $4.92, versus the analyst estimate of $4.76. Revenues for the quarter were $4.04 billion, ex-TAC, versus the consensus of $4.06 billion.
Wall Street was nervous about Google heading into the results. Shares of Google have fallen from the $533 per-share level since its last quarterly report to today's closing price of $353. That's a 34% decline!
CEO Eric Schmidt said, "We had a good third quarter with strong traffic and revenue growth across all of our major geographies thanks to the underlying strength of our core search and ads business. The measurability and ROI of search-based advertising remain key assets for Google. While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term, driving improvements to search and ads, while also investing in future growth areas such as enterprise, mobile, and display."
Google reported Q3 non-GAAP EPS of $4.92, versus the analyst estimate of $4.76. Revenues for the quarter were $4.04 billion, ex-TAC, versus the consensus of $4.06 billion.
Wall Street was nervous about Google heading into the results. Shares of Google have fallen from the $533 per-share level since its last quarterly report to today's closing price of $353. That's a 34% decline!
CEO Eric Schmidt said, "We had a good third quarter with strong traffic and revenue growth across all of our major geographies thanks to the underlying strength of our core search and ads business. The measurability and ROI of search-based advertising remain key assets for Google. While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term, driving improvements to search and ads, while also investing in future growth areas such as enterprise, mobile, and display."
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