Google’s latest earnings report came out and the search giant is doing well during the fourth quarter of 2009. The only thing is, many people were hoping, or even wanting, it to do better because the stick has taken a plunge in after-hours trading.
Now here’s the good news. Google generated $4.95 billion in net revenue, topping a consensus estimate of $4.92 billion. The company reported $6.79 in terms of earnings per share, even though they were estimated to hit closer to $6.50.
Eric Schmidt thinks the company is right on track. “Google had a strong fourth quarter, with 17% year over year revenue growth,” he said in a statement. “Given that the global economy is still in the early days of recovery, this was an extraordinary end to the year. As we enter 2010, we remain hugely optimistic about the Internet and are continuing to invest heavily in technological innovation for the benefit not only of our users and customers, but also the wider web.”
Anyone who bought Google’s stock just before the closing of the market and earnings report coming in came out has lost a good amount of money; Google’s stock is down 4.33 percent in after-hours trading at the moment.