Google (NASDAQ: GOOG) sold off slightly, just over 1%, into the close. Then, all hell broke out. Shares moved up 17% immediately after earnings hit.
Google reported revenues of $5.19 billion for the quarter ended March 31, 2008, an increase of 42% compared to the first quarter of 2007. In the first quarter of 2008, TAC totaled $1.49 billion, or 29% of advertising revenues.
GAAP operating income for the first quarter of 2008 was $1.55 billion, or 30% of revenues. This compares to GAAP operating income of $1.44 billion, or 30% of revenues, in the fourth quarter of 2007
GAAP EPS for the first quarter of 2008 was $4.12 on 317 million diluted shares outstanding, compared to $3.79 for the fourth quarter of 2007 on 318 million diluted shares outstanding.
The estimates for the search engine super-giant from First Call were $4.52 EPS on $3.61 billion in revenues. Next quarter estimates are $4.64 EPS on $3.8 billion in revenues. Estimates for fiscal Dec-2008 are $19.55 EPS on $15.91 billion in revenues.
Those estimates are just a memory now. Google murdered the market’s expectations.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
