Google Wins, But Not Enough Juice (GOOG)
Google Inc. (NASDAQ: GOOG) is out with earnings. The king of search has posted $5.36 non-GAAP EPS and $4.07 billion in ex-TAC revenues. Thomson Reuters had estimates pegged at $5.09 EPS and $4.06 billion in revenues. There was a higher…
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Google does not give guidance, but estimates for next quarter are $4.50 EPS and $4.19 billion in revenues.
TAC revenues were $1.45 billion, or 27% of Ad Revenues. Total revenues outside the U.S. were $2.91 billion.
- Traffic Acquisition Costs, or revenues shared with Google’s partners, were $1.45 billion, similar to $1.44 billion last quarter. TAC as a percentage of advertising revenues was 27%, same as in the first quarter of 2009 and in the fourth quarter of 2008.
- Paid click growth was up 15% over a year ago, but was DOWN 2% sequentially.
- Google’s headcount was down again. The prior quarter was a drop of 58 to 20,164, but this latest report shows a drop down to 19,786 full-time global employees.
- Cash and equivalents was up to $19.3 billion.
Shares closed up 1% at $442.60 on an unofficial closing bell basis, and its 52-week trading range is $2.47 to $537.05. The initial after-hours reaction has shares down around $433.00 on the news.
JON C. OGG
JULY 16, 2009
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
