Strong Quarter Shows Google Still Has What It Takes
One of the most anticipated earnings releases has occurred; Google (NASDAQ:GOOG) has put forward its numbers for the latest quarter. Ad prices saw further declines in the first quarter, but at a slower rate than last quarter and the year-ago quarter, signaling that the company is getting a firmer grip on mobile advertising.
Earnings beat analyst expectations, clocking in at $11.58 per share, $0.89 above estimates and $1.50 more the $10.08 that the company reported last year. Net income came in at $3.35 billion, in contrast to the $2.89 billion for the first quarter of 2012. Revenues landed at $13.97 billion after consolidation, a 31 percent increase over 2012′s first quarter, but $70 million short of analyst estimates.