Google Earnings Rise 16% to Beat Wall Street Predictions
Google's latest quarterly results provide further proof that the company is figuring out how to make more money as Web surfers migrate from PCs to mobile devices.
Google's latest quarterly results provide further proof that the company is figuring out how to make more money as Web surfers migrate from PCs to mobile devices.
Strong earnings from tech giants nudged the stock market to a five-year high Wednesday. Investors drew encouragement from a vote by the House of Representatives to let the government keep paying all of its bills for another four months.
Time Warner Cable has won a contract to carry Los Angeles Dodgers games for at least the next two decades starting in 2014, snatching the games away from Fox Sports after this year's baseball season ends, according to a person familiar with the matter.
Strong earnings reports from big U.S. companies helped push the Dow Jones industrial average to its eighth gain in nine sessions Tuesday. DuPont, Verizon and Travelers Cos., three of the 30 stocks that make up the Dow, closed higher after reporting their financial results for the final quarter of 2012.
Google's stock plunged suddenly on Thursday afternoon after it released its third-quarter earnings report early, apparently by mistake. The company's stock fell $68.19, or 9 percent, to $687.30 before trading was halted to give investors a chance to digest the news.
It's been awfully quiet on the earnings front in recent weeks, and there's a reason: This is the time of year when accountants are nailing down the financials for the fiscal quarters that ended in September. Later this week, the conference calls will begin trickling in, and then it will be a deluge of quarterly reports until early November.
As the market breathes a sigh of relief on hopes that Europe isn't going to fall apart and the unemployment picture isn't getting worse, the focus shifts to China and earnings season. But earnings may be overshadowed if inflation data out of China is worse than expected, now that the country has the world's second largest economy.
There's never a dull moment on Wall Street, especially when new iGadgets hit the shelves and earnings season kicks off in earnest. Let's go over some of the items that will help shape the week ahead.
Earnings season has officially kicked into high gear: 39 companies have reported so far, with the S&P reporting an earnings per share surprise of 6.8%. The best results include increases in financials, consumer discretionary, and materials. Here are some highlights.
Wall Street can be fickle, leaving investors scratching their heads in bewilderment. Some of last week's biggest surprises, blunders, and flat-out boneheaded moves included Netflix's misguided pricing hike, ill-timed IPO announcements by Norwegian Cruise Lines and Zillow, and Trex going the way of Lumber Liquidators.
Given Google's increasing centrality to our digital lives, it might shock you to learn that analysts had been rushing to trim down their estimates for the company's earnings in recent months. That was a mistake: Google just delivered second-quarter earnings that sent its shares skyrocketing.
The Internet giant's first-quarter earnings came in below estimates as it sped up hiring, driving up its costs. The results may heighten fears that Google's earnings might suffer because of the company's commitment to hire at least 6,200 workers this year.
The search engine's strong results were an "October Surprise" of sorts for investors who have wondered whether Google's prodigious profit-making ability was beginning to wane.
These are among the big-name companies posting third-quarter results this week. Analysts are looking for increased profit growth from all of them. Also on tap: Producer prices, consumer sentiment and consumer prices.
Google reported disappointing earnings results Thursday, a performance that is sure to cause Wall Street analysts to lower their projections for the company heading into the second half of the year.














