Google Trades Up on Q1 Results
Google (NASDAQ: GOOG) released its fiscal first-quarter earnings results on Thursday after the closing bell.
The company reported adjusted earnings which were above Wall Street consensus, although sales missed analysts' estimates. In late trading on Thursday, the stock was last up a little less than two percent to $778.94.
Google reported net income for the quarter of $3.35 billion or $9.94 per share, versus $2.89 billion or $8.75 per share, in last year's first-quarter.
On an adjusted basis, which is comparable to analysts' consensus, the company reported earnings of $3.90 billion or $11.58 per share. This easily beat Wall Street analysts' consensus EPS estimates of $10.69.
Revenue in the quarter was $13.97 billion compared to $10.65 billion in last year's corresponding period. This missed street consensus revenue expectations of $14.04 billion. Google revenue in the period was $12.95 billion while Motorola Mobility added $1.02 billion in revenue for the fiscal first-quarter.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.