SAN FRANCISCO - Google Inc. Performance as bright as predictions. The site reported that Google's first quarter net profit rose 18 percent to 2.3 billion dollars or 7.04 dollars per share from 1.96 billion dollars or 6.06 dollars per share a year earlier. Earnings outside of some items was 8.08 dollars per share. The figure below analysts' estimates the profit amounted to 8.12 dollars per share.
Gain of search engine company is below the analyst forecast after the release of the operating expenses for hiring employees and marketing following the level of competition by Facebook Inc. and Apple Inc. increasingly fierce.
As you know, Larry Page, who is served as Chief Executive Officer last week, many rent a place to advertise and work to improve the mobile market. Earlier, in January, Google announced plans to add around 6,000 employees. At the same time, Page also have to defend Google for alleged monopoly in the search engine industry in the U.S. and Europe.
"Step Lary Page indicated that he plans to restore Google to the investment mode and he was chasing a big opportunity," stated by Colin Gillis, an analyst at BGC Partners LP in New York, responding to Google's financial report released on Thursday (4/14/2011) ago.
It note only, before the market was close yesterday, Google's stock had dropped to as low as 30.21 U.S. dollars 548.30 U.S. dollars. However, Google's stock closed finally jumped 2.23 dollars to 578.51 dollars at 16.00 New York time. Throughout this year, Google's stock has slumped 2.6 percent
