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Tech Check
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] no matter how you slice it: the company reports $5.16 a share when the Street was expecting $4.93, on essentially in-line revenue of $4.07 billion, excluding traffic acquisition costs. But when you dig a little deeper, the good news extends across all the company's key metrics: Google's Site Revenue jumped to $3.7 billion, compared to the $3.54 billion anticipated; Network Revenue hit $1.64 billion versus the $1.54 billion anticipated; Paid Clicks grew 17 percent against the 10 percent expected; Google's cash position swelled to $17.8 billion, or about $2 billion more than the company had last quarter.
And all of this without slashing headcount. For the first time in memory, Google's payroll actually did decline but only by 58 individuals, now employing 20,164 workers globally.
In an economic climate like this one, Google's report is particularly impressive, especially as so many newspapers fold because of the implosion of all kinds of advertising. Instead, Google not only shows stability, it demonstrates actual growth, and is able to effectively translate that growth to the bottom line. Further, even though these shares have jumped from their March 9 low of $290 to just shy of $390 at the close today, they are dramatically extending those gains in after-market on this earnings news. At last check, they were up another $31 a share.
And consider this: only about 10 percent of overall advertising is on the net right now. With Google still largely the only game in town, the opportunities ahead for this company remain significant indeed.
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Data is a real-time snapshot *Data is delayed at least 15 minutes