Google’s strong earnings impress analysts |
| Financial Post - Oct 14, 2011 |
While Apple Inc. remains king of the technology heap, Google Inc. and its Android mobile platform remain the biggest threat to the throne, as the company’s boffo results Thursday show.
Shares of Google, which also runs the world’s most popular search engine, spiked as much as 7% in early trading Friday after the Mountain View, Calif.-based company posted a 26% jump in profit on strong advertising sales.
Revenues rose 37%, the best quarterly performance growth since mid-2008.
“Google delivered its second consecutive quarterly blow-out performance under CEO Larry Page, a trend that we expect to continue,” Ross Sandler, analyst with RBC Capital Markets, said in a report Friday. “Google remains one of our favourite large cap Internet names.”
Google’s quarter was lifted by strong growth in core search markets, “explosive growth” in mobile advertising, as well as growth in YouTube.
Read Full Article from Financial Post
- Posted: 2011-10-14 14:16:24
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