Google Delivers, and Big

CNBC.com

Google Search

Talk about a company priced for perfection, and able to deliver.

Google reported $5.89 in earnings per share, way ahead of the $5.42 anticipated by Wall Street, on $4.38 billion in net revenue, which too was way ahead of the $4.23 billion consensus.

The strength in this company's report can be found throughout its key metrics: Sites revenue jumped to nearly $4 billion, which beat the $3.8 billion analysts expected. Network revenue was $20 million better than expectations, at $1.8 billion. Paid Clicks were right in line with expectations, up 14 percent during the quarter.

But maybe more important, Google continues to keep a close eye on its spending.

Capex only reached $186 million, and that's well below the $348 million that Citi's Mark Mahaney expected. And look at the hiring line: Google's total employment now stands at 19,665 employees, or 121 fewer than a quarter earlier.

The company's balance sheet continues to impress: Google was able to add about $3 billion to its cash position, now at $22 billion versus the $19.3 billion just a quarter ago.

This is an impressive report and should do wonders when it comes to extending the tech rally that Intel began with its stellar earnings earlier this week.

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