Here's what four experts are watching now.
Charles Bobrinskoy, vice chairman at Ariel Investments, says this is a company you can bet on.
"This is not Tesla. This is not smoke and mirrors. This is a very good business with operating cash flow that's getting better. Those 20% margins are a lot better than a lot of advertising agencies. So, this is one I would not get in the way of. Some of these I think are destined to fall. This is a very real business, growing in a lot of different ways with more disclosure that we of course love. I would not get in the way of this."
Jeff Saut, chief investment strategist at Capital Wealth Planning, is taking well-known investor Peter Lynch's advice.
"In terms of Google, I've been bullish on Google since it became public. In fact in my presentations at public seminars I asked the people, 'How many of you used Google before it became public?' And all the hands go up, and I said, 'Why didn't you buy the stock?' I mean that's pure Peter Lynch stuff there. And I think Google's got a great business model, and I think it's a great company."
Ali Mogharabi, Morningstar analyst, says there was a mix of good and bad in this quarterly report.
"We think both results were pretty positive. The traffic acquisition costs have stayed around 22% of overall ad revenue consistently for the last four quarters, so they're no longer facing that pressure. However, we do recommend focusing a little bit more on the ad revenues, which came in below consensus, below estimates. And we think that there are a variety of reasons why the ad revenues have been impacted — one is probably the impact of [general data protection regulation] on these ad revenues."
Brent Thill, managing director and senior analyst at Jefferies, says the company is becoming more transparent.
"They added transparency. The stock would be lower given the revenue miss if they didn't have more transparency, and this has been the single biggest thing tech investors have been pushing Google for. ... They bought $7 billion of stock back. It's been their largest buyback ever. They've $20 billion left now on the buyback plan. There's inches now — not gaining miles but inches — of becoming more shareholder-friendly. We think that is a very good thing for a stock that trades at 11 times EBITDA."