Friday, January 22, 2010

Google's Q4 profit soars

The fourth-quarter earnings announced on Thursday topped analyst estimates, but revenue only matched forecasts.Investors initially reacted with disappointment, but seemed to reconsider as they had more time to digest the results. By late Thursday, the company's shares were only 40 cents below their closing price of $582.98 after initially sagging by as much as $33.98, or nearly 6 per cent, in extended trading.Google made $1.97 billion, or $6.13 per share, in the final three months of 2009. That was up dramatically from income of $382 million at the same time in 2008, when Google's earnings were deflated by charges to reflect the eroding value of some investments.

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