20 April, 2007

Google Inc.'s 1Q Profit Rises 69 Percent

iWon Money & Investing:
"Just like its Internet-leading search engine has a knack for finding the information people ask for, Google Inc. keeps giving Wall Street what it wants — scintillating earnings growth that eclipses analyst estimates quarter after quarter.

The company has flashed its financial prowess once again, reporting a 69 percent increase in first-quarter profit to surpass analyst projections by 38 cents per share. Google has now delivered pleasant earnings surprise in all but one of 11 quarters since going public in August.

Investors showed their appreciation by driving up Google's stock price by $15.15, or 3.2 percent, in extended trading Thursday. The shares had fallen $4.36 to close at $471.65 on the Nasdaq Stock Market before the earnings came out."

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