Google Inc (NASDAQ:GOOG) stock hiked to record high level since 2011 after announcing profit that surpassed analysts’ forecasts as advertisers lifted spending to reach consumers during the holiday period.
Google, owner of the world’s biggest search engine, announced in a statement that profit in the fiscal fourth quarter without few items moved up to $10.65 per share.
Analysts had forecasted EPS of $10.50 as shown in the Bloomberg gathered data. The search giant announced that net income hiked 6.7% to $2.89 billion or $8.62 per share.
ComScore data confirms that total United States e-commerce spending hiked 14% during the previous 2 months of 2012 as retailers started promoting Web deals earlier.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Baidu.com, Inc. (ADR) (NASDAQ:BIDU) fell -0.56% to settle at $108.30, Yandex NV (NASDAQ:YNDX) moved up +0.18% to end at $22.75 while Blucora Inc (NASDAQ:BCOR) dropped -3.80% to finish at $14.94 on Wednesday.
Google Inc (NASDAQ:GOOG) last session’s volume of 5.91 million shares was higher than its average volume of 2.28 million shares. The stock after opening at $735.99 hit high price of $749.00 and then closed at $741.50 by scoring +5.50%.
GOOG generated revenue of $47.54 billion in the previous twelve months and earned $10.56 billion. The Company showed a positive 22.20% in the net profit margin as well as in its operating margin which remained at 27.00%. Company’s annual sales growth for the past five years was 29.01%.
The GOOG’s past twelve months’ price to sales ratio was 5.12 and price to cash ratio remained 5.33. As far as the returns are concerned, GOOG’s return on equity was recorded as 17.18% and return on investment increased 15.58% while its return on asset stayed at 13.29%.
The stock showed weekly upbeat performance of 2.29% which was maintained for the month at 2.65%. Likewise the positive performance for the quarter was recorded as 6.69% and for the year was 26.54% while the YTD performance remained at 4.82%.
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