Investors Giggle as Google (GOOG) Smashes Q2 Expectations Under Page
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Google, Inc. (Nasdaq: GOOG),is ripping post-market following solid second-quarter earnings numbers.
Revenues increased 32 percent to $9.026 billion, or $6.92 billion ex-TAC (Traffic Acquisition Costs). The Street was looking for revs of $6.54 billion.
Net income in the quarter ripped 34.5 percent to $7.68, or $8.74 excluding items, beating the consensus views calling for a more modest EPS of $7.86. Google even beat the "Street high" EPS estimate of $8.34.
Traffic Acquisition Costs grew 22 percent to $2.11 billion in the quarter, though it dropped 2 points to 24 percent of total advertising revs.
Paid clicks saw a 2 percent sequential drop in revs, but a gain of 18 percent on a year-over-year comparison. Cost-per-click rose 6 percent from Q111, and increased 12 percent over the same period last year.
Employee headcount increased 9.3 percent in the quarter, to 28,768 full-timers worldwide.
Notably, CEO Larry Page, in his first full quarter at the helm since relinquishing the title some ten years ago, commented, "I'm super excited about the amazing response to Google+ which lets you share just like in real life."
We're excited too, Larry. We're excited, too.
Shares of Google are up 10 percent to $583 in after-hours action.
Revenues increased 32 percent to $9.026 billion, or $6.92 billion ex-TAC (Traffic Acquisition Costs). The Street was looking for revs of $6.54 billion.
Net income in the quarter ripped 34.5 percent to $7.68, or $8.74 excluding items, beating the consensus views calling for a more modest EPS of $7.86. Google even beat the "Street high" EPS estimate of $8.34.
Traffic Acquisition Costs grew 22 percent to $2.11 billion in the quarter, though it dropped 2 points to 24 percent of total advertising revs.
Paid clicks saw a 2 percent sequential drop in revs, but a gain of 18 percent on a year-over-year comparison. Cost-per-click rose 6 percent from Q111, and increased 12 percent over the same period last year.
Employee headcount increased 9.3 percent in the quarter, to 28,768 full-timers worldwide.
Notably, CEO Larry Page, in his first full quarter at the helm since relinquishing the title some ten years ago, commented, "I'm super excited about the amazing response to Google+ which lets you share just like in real life."
We're excited too, Larry. We're excited, too.
Shares of Google are up 10 percent to $583 in after-hours action.
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