Google Delivers Spectacular Results
Internet search and advertising firm Google has delivered yet another quarter of phenomenal growth. Declaring its results on Thursday, Google reported a growth of 176% in net earnings. Its net profit for 2006 Q4 jumped to $1.03 billion from $372.2 million in 2005 Q4.
Total revenues jumped from US$ 1.92 billion to $3.2 billion in the last quarter.
The quarterly earnings per share stood at 3.29$ compared to 1.22$ in 2005.
However some analysts pointed out that tax benefits were a major factor because of which Google beat street expectations. According to analyst Rob Sanderson, Google’s earnings without the tax benefits would have been $2.99 per share…just above $2.92 estimated by analysts.
The stock ended 4% lower at $481.75. Maybe investors expected Google to beat street estimates by a even larger margin.