Google (GOOG) Fails To Live Up to Lofty Earnings Expectations, Shares Plunge
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Income from operations: 4.71B
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BTTX, VAXX, ELYS, More
Financial Fact:
Income from operations: 4.71B
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Google Inc. (NASDAQ: GOOG) missed the Street's expectations with its first-quarter earnings on Thursday, while revenues topped estimates in the first period under its new-old CEO.
The world's largest Internet Search company reported first-quarter earnings of $8.08 per share, 5 cents below the analyst estimate of $8.13 per share
Revenue for the company rose to $6.54 billion in the quarter ex-TAC, ahead of the market consensus of $6.32 billion.
Paid Clicks increased 18 percent for the company in the quarter, while cost-per click increased 8 percent. Google said that international revenues totaled $4.57 billion, representing 53 percent of total revenue for the quarter.
"We had a great quarter with 27% year-over-year revenue growth," said Patrick Pichette, CFO of Google. “These results demonstrate the value of search and search ads to our users and customers, as well as the extraordinary potential of areas like display and mobile. It's clear that our past investments have been crucial to our success today--which is why we continue to invest for the long term.”
On his first earnings day since taking over as CEO, and with just one hour until the much-anticipated report, Google CEO Larry Page disclosed the sale of 55,556 shares at prices from $568.30-$576.85 through a 10b(5)-1 plan.
Shares of Google are down 4.14 percent to $554.55 in aftermarket movement on Thursday.
The world's largest Internet Search company reported first-quarter earnings of $8.08 per share, 5 cents below the analyst estimate of $8.13 per share
Revenue for the company rose to $6.54 billion in the quarter ex-TAC, ahead of the market consensus of $6.32 billion.
Paid Clicks increased 18 percent for the company in the quarter, while cost-per click increased 8 percent. Google said that international revenues totaled $4.57 billion, representing 53 percent of total revenue for the quarter.
"We had a great quarter with 27% year-over-year revenue growth," said Patrick Pichette, CFO of Google. “These results demonstrate the value of search and search ads to our users and customers, as well as the extraordinary potential of areas like display and mobile. It's clear that our past investments have been crucial to our success today--which is why we continue to invest for the long term.”
On his first earnings day since taking over as CEO, and with just one hour until the much-anticipated report, Google CEO Larry Page disclosed the sale of 55,556 shares at prices from $568.30-$576.85 through a 10b(5)-1 plan.
Shares of Google are down 4.14 percent to $554.55 in aftermarket movement on Thursday.
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