Search giant Google Inc.’s quarterly results surpassed Wall Street’s expectations late Thursday
Google shares (GOOG 557.50, -25.48, -4.37%) slumped 4.5% to trade at $557.05. With nearly 1.5 million shares exchanged, Google was on Nasdaq’s list of the session’s 10 volume leaders. The company said fourth-quarter earnings excluding special items were $6.79 a share. Analysts polled by Thomson Reuters had expected earnings of $6.48 a share.
Net revenue rose to $4.95 billion, compared with the forecast for net revenue of $4.92 billion. Profit at Google was $1.97 billion, or $6.13 a share, up from $382 million or $1.21 a share in the same period a year earlier.
Collins Stewart LLC analyst Sandeep Aggarwal told MarketWatch that the share-price decline after hours may stem from possible disappointment with the average price paid per click on a Google advertisement in the quarter.
The average price paid by advertisers rose 5% compared with the year-ago period. The complete of Google Earning can write here.
Google shares have declined 6% since the start of 2010, but have more than doubled from the same period a year ago.
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