Google (GOOG) beat Wall St. estimates. EPS was $3.18 compared with expectations of $2.91. Revenue hit $3.21 billion versus a consensus of $3.14 billion. Well, Cramer said it would. It was one of his top picks of 2007.
Investors had set the bar very, very high.
Aggregate paid clicks at Google were up an astonishing 61% from last year.
Oddly enough, it does not seem that Google beat estimates by a large enough margin. Due to Wall St.’s perverse calculus GOOG shares fell after the announcement dropping as much as 3%. By 4.14 PM they were down only 1%.
Now, that makes sense.
Douglas A. McIntyre
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