Google’s 2Q Profit up 28 Percent
Google earned $925.1 million, or $2.93 per share, during the three months ended in June. That compared with net income of $721.1 million, or $2.33 per share, at the same time last year.Revenue for the period totaled $3.87 billion, a 58 percent increase from $2.46 billion at the same time last year.
If not for costs associated with employee stock compensation, Google said it would have earned $3.56 per share. That figure missed the average analyst estimate of $3.59 per share among analysts polled by Thomson Financial.
After subtracting commissions paid to its advertising partners, Google’s revenue was $2.72 billion — about $40 million above analyst projections.
But the quarter’s bottom line raised concerns that the rapid growth propelling Google’s lofty stock price is slowing more dramatically than analysts thought.
Google stock getting punished by investors in after hour trading..