Google posted a better than expected quarterly profit, and stock rose in after hours trading. This is great news as all the doom and gloom surrounding the U.S. economy isn’t translating into an overall slowdown in internet advertising. Shares surged 17-18% to top $525 after hours and should be an interesting day in the markets on Friday.
First-quarter net income $1.31 billion, or $4.12 per diluted share, from $1 billion, or $3.18 per share, a year earlier. Excluding one-time items and stock option expenses, profit was $4.84 per share, ahead of Wall Street forecast of $4.53. A 31 cent gain is excellent!
Gross revenue rose 42 percent to $5.19 billion. Google’s revenue grew at a 63 percent rate in the same quarter a year ago. Revenue is slowing but when you consider the size of Google it will start to slow even more.
International revenue accounted for 51 percent of the total, surpassing U.S. revenue for the first time and powering the company’s results. This is the most interesting figure of the report as it’s not all about the U.S. markets! Tremendous revenues can be made on an international level and the profits can be taken in multiple currencies depending on benefit to Google.
As an Internet marketer I welcome new like this!!