SAN FRANCISCO -- Having doubted Google (GOOG - Get Report) once before, only to be proven wrong, Wall Street has no doubts this time around that the tech giant will post solid second-quarter results Thursday after the bell.
"While we are optimistic about a strong quarter, we do not expect a material surprise like last quarter, which sparked a dramatic relief rally," according to Rob Anderson, an analyst for American Technology Research.
Cramer: Gotta Wait on Google
As usual, Google has not provided guidance for the second quarter, but analysts expect earnings of $4.74 a share on revenue of $3.87 billion.
Analysts see strength from overseas, as well as improvements to Google's search monetization. At the same time, the company may continue to experience a decline in growth for paid clicks as well as revenue, tempering some of the enthusiasm for the stock.
In the lead-up to the first quarter, analysts had been down on Google after the research firm comScore showed that the company's paid clicks -- the number of times users click on ads -- were flat in January. This came on the heels of Google's results for the fourth quarter, when it missed estimates and caused the stock to plummet almost 9% the next day.
Analysts began lowering their target price on Google, anticipating more bad news in the first quarter and conceding that the economy had finally taken its toll. But much to Wall Street's delight, Google posted an impressive first quarter, soaring past estimates and pushing the stock up almost 20% the next day.