Google Inc. (NASDAQ:GOOG) reported net income above Wall Street’s expectations for the third quarter. Net income for Google Inc. rose to $2.73 billion ($8.33 per share) vs. $2.17 billion ($6.72 per share) in the same quarter a year earlier. This marks a rise of 25.9% from the year earlier quarter. Revenue rose 33.4% to $9.72 billion from the year earlier quarter. GOOG reported adjusted net income of $9.72 per share. By that measure, the company beat the mean estimate of $7.59 per share. It beat the average revenue estimate of $7.19 billion.
“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!”
Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), Yahoo! Inc. (NASDAQ:YHOO), Baidu.com, Inc. (NASDAQ:BIDU), Apple Inc. (NASDAQ:AAPL), AOL, Inc. (NYSE:AOL), Amazon.com, Inc. (NASDAQ:AMZN), Adobe Systems Incorporated (NASDAQ:ADBE), Demand Media Inc (NYSE:DMD), IAC/InterActiveCorp (NASDAQ:IACI), and Answers Corporation (NASDAQ:ANSW).
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Fairchild Semiconductor Corporation (NYSE:FCS) reported its results for the third quarter. Net income for the semiconductor company remained steady at $35.8 million (28 cents per diluted share) from the same quarter a year ago. Revenue fell 2.7% to $403.2 million from the year earlier quarter. FCS reported adjusted net income of 34 cents per share. By that measure, the company beat the mean estimate of 32 cents per share. Analysts were expecting revenue of $404.2 million.
“We delivered double-digit sales growth for our mobile analog products during the quarter,” said Mark Thompson, Fairchild’s president and CEO. “MCCC sales were flat from the prior quarter which reflects this increase in mobile demand offset by weaker sales into the computing and consumer end markets. PCIA sales were down 10 percent sequentially due to customers in the consumer, appliance and solar sectors reducing inventories in addition to the normal seasonal weakness for industrial and automotive markets in the second half.”
Competitors to Watch: ON Semiconductor Corp. (NASDAQ:ONNN), National Semicond. Corp. (NYSE:NSM), Texas Instruments Inc. (NYSE:TXN), Intersil Corporation (NASDAQ:ISIL), Diodes Incorporated (NASDAQ:DIOD), Intel Corp (NASDAQ:INTC), STMicroelectronics N.V. (NYSE:STM), Infineon Tech. AG (IFNNY), Microsemi Corporation (NASDAQ:MSCC), Maxim Integrated Products Inc. (NASDAQ:MXIM), and Analog Devices, Inc. (NYSE:ADI).