Google Earnings: Here’s Why the Stock is Up Now
Google Inc. (NASDAQ:GOOG) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.47%.
Google Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.88% to $11.58 in the quarter versus EPS of $10.08 in the year-earlier quarter.
Revenue: Rose 3.43% to $11.01 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Google Inc. reported adjusted EPS income of $11.58 per share. By that measure, the company beat the mean analyst estimate of $10.69. It missed the average revenue estimate of $14.04 billion.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue decreased 16.69% from $13.22 billion in the previous quarter. EPS increased 9.35% from $10.59 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $10.94 to a profit $10.91. For the current year, the average estimate has moved down from a profit of $45.87 to a profit of $45.51 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)