Thursday July 14, 2011

Google Beats Analyst Sales and Earnings Estimates

Google posted results this afternoon that exceeded analyst expectations earning $2.5B on revenue of $6.92B. Apparently not everyone in the tech industry missed the mark this quarter.

The search giant earned $2.5 billion on revenue (after traffic acquisition costs were removed) of $6.92 billion. Deducting the cost of covering employee stock, Google's earnings came in a $8.74 a share. According to First Call, analysts had expected $7.86 for in earnings per share on revenue of $6.55 billion for revenue.