Google Inc (GOOG) Earnings: After-Hours News

0 MIN:45SEC
Category: Technology / Oct 17, 2013 4:44PM EDT

Google Inc. (NASDAQ: GOOG) soared past earnings expectations on Thursday after the tech giant reported fiscal third-quarter earnings excluding items of $10.74 a share on revenue of $14.89 billion.

Wall Street had expected earnings excluding items of $10.34 a share on $14.79 billion in revenue, according to analysts polled by Reuters. Revenue increased 12 percent for the quarter ended September 30, 2013, from the same quarter a year-ago.

Google said consolidated GAAP net income in the third quarter of 2013 was $2.97 billion, compared to $2.18 billion in the third quarter of 2012. Non-GAAP consolidated net income was $3.64 billion in the third quarter of 2013, compared to $2.96 billion in the third quarter of 2012.

Google Chief Executive Officer (CEO) Larry Page said in the earnings statement “Google had another strong quarter and great product progress.”

Shares jumped 6.44 percent to $946.18 in after-hours trading following the announcement.

Also after the bell, Capital One Financial Corp. (NYSE: COF), Chipotle Mexican Grill, Inc. (NYSE: CMG) and Advanced Micro Devices, Inc. (NYSE: AMD) report third-quarter results.

The Dow Jones industrial average fell 3.98 points, or 0.03 percent, at 15,369.85. The S&P 500 rose 11.36 points, or 0.66 percent, at 1,732.90. The Nasdaq Composite Index was up 23.72 points, or 0.62 percent, at 3,863.15.

 

Video Credit: Reuters