Google reports strong earnings in its 4th quarter

February 1st, 2005

Google reports strong increases in sales and earnings in its fourth quarter. Its stock surged after hours on the news.

The top search engine company reported net income of $204 million, or 71 cents a share, a 650 percent increase from the same period last year.

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Analysts were expecting Google to report pro forma earnings, which do not include stock compensation expenses and other charges, of 77 cents per share.

Revenues came in at $1.03 billion for the quarter, up more than 100 percent from a year ago.

Excluding traffic acquisition costs (TAC), the portion of advertising revenue that Google shares with partners, sales came in at $654 million, ahead of the Wall Street consensus estimate of $592 million.

Shares of Google (Research) surged 4.4 percent in after-hours trading, according to INET. The stock fell $3.72, or 1.9 percent, to $191.90 in regular trading on the Nasdaq Tuesday. Google is up more than 125 percent since it went public in August.

Source: CNN FN

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