Google Earnings Are Strong; Revenue Is Okay
First look at Google earnings: Net revenue of $11 billion and earnings of $11.58 per share.
The street was looking for $11.2 billion and $10.68. Shares are trading up, but just barely. (Correction: An earlier version of this story had shares pointing the other direction.)
The “real” Google numbers — Google’s ad business, net of Motorola — were $12.95 billion minus traffic acquisition costs of $2.96 billion, or $9.99 billion. Revenue was up 22 percent compared to a year ago; TAC was up 18 percent.
The earnings call starts at 4:30 pm ET, and Google is streaming it via YouTube (of course). You can follow along right here: