Good observation here:
Google is worth $30 per share
Funny that, as shares are up more than $30 apiece in after hours trading. Google delivered another blowout quarter. Last earnings call they soften expectations for this quarter, and with the bar set low they easily topped it.
- Google noticed 14% profit growth in sequential quarters
- 96% year over year profit growth (although last year's results included a $201 million charge to account for a legal settlement with Yahoo over the Overture pattent).
- Google saw 20% quarterly increase in profit from Google.com
- 7% growth rate throughout their partner network
- international 39% same last and this
- UK 15% this quarter 14% last
- 4989 employees as of September 30th
"Although this is typically a slower season for internet properties, we had another exceptional quarter," said Google chief executive Eric Schmidt.
"Our focus on end users and on quality of information and advertising worldwide continues to work extremely well. We are very pleased with how well this is working at scale."
Shares eclipsed their all time highs, & were trading at 335.06 when I last checked, with Google up over 10% in after hours trading.
Not that I had many shares, but I sold a few at $326 thinking Google would soften forward guidance, but they never did! I still suspect the stock will come down a bit after the market opens in the morning ;)
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