Business

Google shares jump $53 after strong results, adding $17B in value

Image Credit: Ricardo Bilton/VentureBeat

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.

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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.

More information:

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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