This afternoon after the market closed, search engine giant Google Inc. (GOOG) reported better than expected earnings for its first quarter.
As we noted in our Google earnings preview, analysts had forecast earnings of $6.60 for the quarter. Google outpaced analyst earnings by posting earnings of $6.76 a share.
Despite posting better than expected earnings figures, the stock traded down nearly 5% in after hours trading as investors reacted negatively to the company’s rising costs.
Total costs and expenses rose to $4.3 billion from $3.6 billion during the same period last year. Most of the increase in expenses came from hiring close to 800 new employees during the quarter.
Visit bloggingstocks for a more in depth analysis of Google’s first quarter results.
Popularity: 1% [?]
Keep up with all stock market updates with our RSS Email Feed.
