The company reported a profit of $6.79 a share in the fourth quarter excluding one-time items, against earnings of $5.10 a share in the same period last year.
Sales for the most recent period, excluding traffic-acquisition costs, rose to $4.95 billion, up from $4.221 billion last year.
Analysts who follow Google saw the company turning in a profit of $6.48 a share, according to a consensus estimate from Thomson Reuters. Sales were seen at $4.919 billion
What’s the trade?
It was a good number but not enough to justify the run in the stock, explains Jon Najarian. However, I think $540 is support. I'm bullish.
I like Google at $550, echoes Tim Seymour. This sell-off seems overdone.
> For complete coverage of Google earnings, click here
AFTER HOURS ACTION: AMERICAN EXPRESS
In the after hours, shares of American Express edged lower despite an earnings report which showed profit more than doubled from a year ago on a per-share basis, helped by rising consumer spending and lower credit losses.
The credit card issuer, a component of the Dow Jones Industrial Average, reported earnings excluding one-time items of 59 cents a share in the fourth quarter, up from 57 cents a share in the same period a year ago.
Sales hit $6.49 billion. In the same period a year prior, sales came in at $6.141 billion.
Analysts who follow AmEx were expecting it to report a profit of 57 cents a share, according to a consensus estimate compiled by Thomson Reuters.
What must you know?
This is another case of good results, bad stock market reaction, says Guy Adami. That's a market 'tell.'
Of all the names in this space, I'd look at Visa on any pullback, adds Pete Najarian.
> For complete coverage of American Express earnings, click here
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Trader disclosure: On January 21st, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman Owns (AAPL); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (UNG), (USO); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm And Finerman Own (GOOG); Finerman's Firm Owns (MSFT); Finerman's Firm Owns (TGT); Pete Najarian Owns (BBT) Calls; Pete Najarian Owns (BP), Is Short (BP) Call; Pete Najarian Owns (GS) Call Spread; Pete Najarian Owns (INTC) Calls; Pete Najarian Owns (MS), Is Short (MS) Calls; Pete Najarian Owns (MRVL); Pete Najarian Owns (PFE); Pete Najarian Owns (XLF) Calls; Pete Najarian Owns (CLF) Call Spread; Pete Najarian Owns (TCK), Is Short (TCK) Calls; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU)’ Seymour Owns (FXI), (AAPL), (BAC), (GOOG), (INTC), (POT)
For Tim Seymour:
Seygem Asset Management Is Short (PBR)
Seygem Asset Management Is Short (FCX)
For Jon Najarian:
Jon Najarian Owns (GOOG) Put Spread
Jon Najarian Owns (POT) Call Spread
Jon Najarian Owns (GOOG)
For Brad Hintz:
Hintz Owns Morgan Stanley And Discover
Hintz Owns (CME)
Accounts Over Which Bernstein And/Or Affiliates Exercise Investmet Discretion Own More Than 1% Of (GS), (MS)
(GS), (MS) Are Or In Past 12 Months Were Clients Of Bernstein (Non-Investment Banking-Securities Related Services)
An Affiliate Of Bernstein Received Non-Investment Banking Compensation From (GS), (MS) (Securities Related Services)
For Richard Kugele:
Needham & Company Is A Market Maker In (STX)
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