Google profit meets expectations

CBC News

Posted: Jul 19, 2012 4:28 PM ET

Last Updated: Jul 19, 2012 4:35 PM ET

Google Inc. reported second-quarter earnings after markets closed Thursday. (Virginia Mayo/dapd/Associated Press)

Google Inc. posted second-quarter earnings of $10.12 US per share Thursday on revenue of $8.63 billion US.

The results were what markets expected. On average, analysts were expecting income of $10.11 per share on revenue of $8.43 billion, according to a poll by FactSet.

The results came out after markets closed. In after hours trading, Google shares were up three per cent at $612.

The results compared with earnings in the same period last year of $2.5 billion, or $7.68 per share, on revenue of $9 billion.

Google’s report comes two days after the world’s largest chipmaker, Intel Corp., warned that the weak global economy is slowing its growth, and revenue for the current quarter is likely to come in below Wall Street forecasts.

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