Google's earnings up but just shy of expectations
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Despite some market concerns over Google&#39;s growth potential in a slowing economy, the search giant continues to report strong growth, with fourth-quarter revenue up 51 percent over the same period the year before.Google reported revenue of $4.83 billion for the quarter ending Dec. 31 using GAAP (generally accepted accounting principles). Net income for the period was $1.21 billion, compared to $1.01 billion in the third quarter of 2007.With earnings per share of $4.43, Google just missed analyst consensus of $4.44 on a non-GAAP basis, as polled by First Call.Google continues to increase revenue from outside the United States, reporting that 48 percent of total revenue in the quarter came from international markets. That&#39;s up from 44 percent in the same period a year earlier but the same as the third-quarter 2007.In a statement, Google&#39;s CEO Eric Schmidt said that the report reflects strong momentum in the company&#39;s core business as well as a growing receptivity to its new businesses.
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MOUNTAIN VIEW, Calif. -- Google Inc.'s fourth-quarter profit fell below analyst expectations, signaling the crumbling U.S. economy has dented the Internet search leader's moneymaking machine.
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Strong revenue growth for Web search  leader Google Inc. prompted analysts to raise share  price targets for the company on Thursday, but investors failed  to take the cue, sending the stock down 3 percent.
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NEW YORK Despite voluble skepticism among investors, Google&#39;s stock jumped about 18 percent to $100.01 a share when it debuted Thursday on the Nasdaq stock market.
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Google Inc.'s fourth-quarter profit nearly tripled as the online search engine leader once again sprinted past analyst expectations, but the breathtaking growth wasn't enough to satisfy investors.
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Tired of over-achievement Google's income nearly tripled over the Christmas holiday period, boosted by growing online advertising, but failed to excite investors.â¦
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Internet search engine Google Inc said its net profit and sales more than doubled in the third quarter, spurring a spectacular jump in its share price.
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U.S. stocks rose slightly on Wednesday  on strong earnings from Google Inc. GOOG.O and Boeing Co.  BA.N amid caution before a Federal Reserve statement that  could indicate the pace of future interest-rate hikes.
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Google's valuation isn't just fair -- it's downright cheap.
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Continuing a recent surge driven by Wall Street's high expectations for the company, Google's shares rose $9.67, or nearly 2 percent, to $504.72 in morning trading on the Nasdaq
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GOOGLE, the internet search company, defied its doubters last night as it reported a doubling of quarterly revenues on strong advertising demand.
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Google Inc.'s third-quarter profit soared 46 percent to hurdle the enormous expectations that have elevated the Internet search leader's stock price by more $100 during the past month.
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Google surprised Wall Street Thursday, reporting higher than expected revenue and profits due to increased market share and cost-cutting measures.
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Google said today that its quarterly profit rose as its ability to capitalize on Web advertising gained momentum against rivals such as Yahoo and Microsoft.
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Google said that its profit jumped 17 percent in the fourth quarter, but the earnings fell short of analystsâ expectations, and the companyâs shares fell after hours.
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(InfoWorld) - Google's revenue continued to climb in the second quarter with the company reporting revenue of $3.87 billion, up 58 percent compared to the same quarter last year. Net income for the quarter, which ended June 30, was $925 million, down just slightly from $1 billion in the first quarter. On a non-GAAP (generally accepted accounting principles) basis, net income for the quarter was $1.12 billion, compared to $1.16 billion in the first quarter. Google-owned sites generated revenue of $2.49 billion, or 64 percent of revenue for the quarter, an improvement of 74 percent over the same quarter last year. Revenue outside of the U.S. was $1.84 billion, or 48 percent of total revenue for the quarter. That's up from 42 percent in the second quarter 2006. Google was pleased with its international expansion. "We continue to make significant international investments and we're seeing the benefits of this strategy," said George Reyes, CFO, during a conference call to discuss the earnings. Europe drove international growth for the search giant, with Spain, Italy, and France leading the charge and Germany and the U.K. also serving as significant revenue drivers, he said. The company continues to hire new workers in its international sites and expand product support in international markets. Paid clicks grew by 47 percent compared to the second quarter of 2006. That includes clicks related to ads served on Google sites as well as the sites of AdSense customers. Earnings per share was a bit lower than expected by analysts. Non-GAAP earnings per share for the second quarter was $3.56, down from $3.68 in the first quarter and a few cents shy of the $3.59 expected by financial analysts polled by Thomson Financial. Google's rift with eBay Inc. during the quarter didn't have a negative affect on earnings, executives said. In June, eBay pulled all of its ads from Google's AdSense network. The auction giant later returned to AdSense but at a significantly lower level. Even though eBay has been the largest advertiser on AdSense, there was no impact on Google from the change, said Eric Schmidt, chairman and CEO of Google. "EBay is a long term partner for Google and while it's true they adjusted their mix in our ad model, they continue to be a significant advertiser," he said. "We did not see an impact on Google from the changes they talk about that they made." During the call with financial analysts, Schmidt touched on Google's interest in upcoming wireless spectrum auctions. Google wants to see consumers buy any mobile device and be able to connect to a wireless network and use the full capability of the Internet, he said. That's because he wants those users to become Google advertising customers. "There's a direct connection between the open interoperable network we're arguing for in the FCC filing and so forth and the usage of Google services," he said. Google filed a document with the Federal Communications Commission urging the agency to make changes to the rules for an upcoming spectrum auction in order to ensure that the resulting networks are open. Google's earnings report comes against the backdrop of hints of a challenge to the company'sÂ proposed acquisition of DoubleClick. A U.S. House of Representatives subcommittee hasÂ opened an investigation into the proposed $1 billion acquisition. The executives did not discuss the proposed merger, but Schmidt did touch on legal woes for the company. The two most significant lawsuits Google faces at the moment include those related to its book search project and the suit filed by Viacom related to YouTube, the online video site that Google owns. Schmidt called the suits very important and said he wished they could be solved by technology or otherwise. He also cautioned that governments around the world could potentially find some of Google's activities inappropriate and that could become the source of future legal troubles. For now, however, there are no such threats, he said. This story was updated on July 19, 2007 Â
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SAN FRANCISCO - Google Inc.'s fourth-quarter profit nearly tripled amid another burst of breathtaking growth that enabled the online search leader  to sprint past analyst expectations - a habit that has helped propel its  stock price above $500.