I started a new position with GOOG today after hours at $562.50. GOOG announced earnings after the bell. Within the first few seconds of the announcement GOOG Dropped $10 per share from its closing price of $582.98. That got my attention and thus I picked up some shares. GOOG continued its downtrend to just below $550. It is off the low to $554 as of this writing.
Credit Suisse, The Street and Ford Equity Research all rate GOOG at the highest category.
Google said net income rose to $1.97 billion, or $6.13 a share in the period ended in December, compared to $382 million, or $1.21 a share in the same period a year earlier. Net revenue rose to $4.95 billion, Google said. Wall Street analysts were expecting Google to post earnings excluding items of $6.48 a share GOOG booked $6.79 a share.
Google said its paid clicks (Google Adwords) generated revenue, rose 13% compared to the same period last year. Google had posted 14% year-over-year growth in paid clicks for its quarter ended in September.