Google continued to dazzle Wall Street in its third quarter as a publicly traded company, blowing past analysts' estimates after the close on Thursday.
Google's net income soared 477% in the first quarter to $369.2 million, or $1.29 a share — a stunning 37 cents a share more than analysts were expecting — and net revenue of $794 million beat $729.8 million forecasts.
"This was a very strong quarter for Google," CEO Eric Schmidt said in a statement. "We continue to execute well, and we have been able to take full advantage of the growth in online advertising."
Shares of Google jumped 6% in after-hours trading, approaching the stock's all-time high of $216.80 a share.
Stocks soared during Thursday's trading session, with the Dow and S&P posting their best gains in two years after strong manufacturing and jobs data eased fears of an economic slowdown. Comments from Fed Chairman Alan Greenspan dismissing "stagflation" concerns added to the gains, as did strong earnings from technology companies. Google Answers: Falling Trees:: We are continuing to look into the situation. The number of deer-related crashes continues to increase every year, said Dr. http://answers.google.com/answers/threadview?id=336112HOME | Linden Labs Make Enhancements To Second Life Grid | B.E.T.A. Daily:: It includes implementation of Second Life Simulator, Windlight and Dazzle. Blogging Madness Powered By TechCrunch And The End of Google To-Do List (6) http://www.betadaily.com/2008/04/03/linden-labs-make-enhancements-to-second-life-gridHOME |
The Nasdaq soared 48 to 1962, the S&P 500 surged 22 to 1159, and the Dow soared 206 to 10,218. Volume rose to 2.3 billion shares on the NYSE, but declined to 2.02 billion on the Nasdaq. Advancers led 24-8 on the NYSE, and 22-8 on the Nasdaq. Upside volume was 83% on the NYSE, and 86% on the Nasdaq. New highs-new lows were 23-66 on the NYSE, and 28-105 on the Nasdaq. As my site traffic continues to grow | Second Life Update:: Dazzle. There is a new viewer coming soon. Viewer 1.20 RC11. Dazzle. Over 30 fixes are included. Google to Create Virtual World Instead of Buy Linden Labs http://www.secondlifeupdate.com/2008/05/as-my-site-traffic-continues-to-growHOME | How Google Works (In Mysterious Ways) - News and Analysis by PC Magazine:: For all the razzle-dazzle surrounding Googleeverything from the press it gets Meanwhile, its market share continues to soar. http://www.pcmag.com/article2/0,1895,1985859,00.aspHOME |
Strong earnings from Motorola, SAP and Nokia sent the Nasdaq to its best gain in more than a year, and Qualcomm managed a gain despite warning.
eBay finished the day fractionally lower, as concerns about slowing growth at the online auction giant outweighed better than expected earnings.
Cypress Semi and VeriSign surged on their results, and DoubleClick jumped 16% on takeover reports.
Archipelago soared 60% after the NYSE announced plans to buy the electronic trading firm and go public.
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