Google announced its Q1 Earnings reports last night which more or less crippled expectations that Google may have not had such a fantastic first quarter in 2008. Well, Google proved the analysts wrong with a 30% increase in profit during the Q1 of the year, amidst a slowing US economy and revenue escalating 42% to $5.19 billion compared to the same period last year.
In pre-maret trading overnight, Google stock value has skyrocketed from $449.54 at the closing of the market yesterday to $533.81 per share in global trading. The market is about to open, so keep your eyes on Google this morning.
If you bought Google shares after the comScore announcement the other month, congrats, looks like the drop in Google value due to comScore misrepresentation opened a buyers market. I’m also sure the ‘upcoming’ partnership with Yahoo won’t hurt either :)
[More from Barry]
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2 responses so far ↓
adam martin on Apr 18, 2008 at 1:50 pm
Deat Loren, if you’re interested in our efforts to increase corporate and wall street transparency
by psychologically handi capping live CCs, please email us, we would be flattered even with a no thank you! Great Weekend to you.
First, Google is trading up over $75/share after the CC; do we need to say more? Please allow for some psychological insights we took away. This CC was a tag team event of many geniuses and muchly appreciated by many we’re sure. Often times, a CC has one or perhaps two executives being involved, Google is different. Google had five executive managers involved in the Q/A and everyone was very prepared and minced no words. Eric was very forceful about the macro economic environment not affecting Google. He added that it may actually help its pricing, even in the foreclosure/mortgage mess at the 52m mark; we were impressed and happy for the bulls.
The analyst from Jeffries and Co, Youssef Squali, who downgraded shares, we assume just listening from afar with mouth wide open. We all make mistakes, but his downgrade looks completely wrong after this CC and a $75 up move in Google! Canaccord Adams analyst, Colin Gillis, initiated Google a buy on January 29th, and therefore his universe of stocks under coverage must be followed closely.
In conclusion, the CC was a tag team of five Google executive champions. DCLK was mentioned a lot, and annunciated with great excitement at least 5 times. YouTube explosion and the fact Google has surpassed the 50% revenue barrier outside U.S. bodes favorably in our opinion. We come away convinced the DCLK and Google synergies will get greater as time goes by; therefore, why don’t our readers consider competitors like Valueclick (VCLK), currently fetching a measly $17? Perhaps they’ll be the next ones bought on the cheap…
We hope you listened to our bullish conviction on the market yesterday. We are more confident that the worst economic fears have been laid to rest by Intel on Tuesday, and the Google juggernaut today. From all of us at the Psychology of the Call, happy trading ~
Rosad on Apr 19, 2008 at 1:45 am
Yes google have entered as as 50 best company 2008.
I like GOOGLE…
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