Google shares jumped $53 in after-hours trading after the company reported strong quarterly financials today, adding $17 billion to the company’s stock market capitalization.
The company reported $14.9 billion in income with earnings per share of $10.74, both higher than analysts expected. That translates to profit of $2.97 billion.
Expect the shares to subside somewhat as investors take profits — this was a strong quarter by Google and beat expectations, but it wasn’t a complete blow-out quarter. Additionally, the company has so far not released any new news about products and services that would warrant a huge bump in stock price.
However, it is a sign of the market’s confidence in Google, and in GOOG, to continue producing profit and to continue dominating its market.
Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major glob... read more »
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