Submitted by WSN_Staff on Thu, 10/15/2009 - 22:02.
Google Inc. (NASDAQ:GOOG) Q3 09' earnings beat the Street and CEO Eric Schmidt believe "the worst of the recession is clearly behind us. " Google shares moved up 3%
(StreetInsider.com ) Google reported Q3 EPS of $5.89 (ex-items) versus the analyst estimate of $5.40. The EPS number from Google also beat the 'street high' EPS estimates of $5.68. Revenue for the quarter rose to $4.38 billion, which compares to the estimate of $4.23 billion. Revenues were up 7% year-over-year despite the tough economy.
CEO Eric Schmidt, "While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us and now feel confident about investing heavily in our future."
Reaction and Insight with Gene Munster of Piper Jaffray (Bl
oomberg News)
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