This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Google Shares Jump as Profits Impress

Sergey Brin, Google's co-founder and president of technology, said that mobile searches are "growing very rapidly" due to market growth. Brin added that the entire library of the company's YouTube video-sharing service is available for mobile users, and that Google has seen "mobile playbacks increase tremendously."

Regarding Google's failed auction bid for a block of the Federal Communications Commission 700-MHz spectrum, Brin said he was still satisfied in that the open access of the spectrum's prime C-block will benefit developers and consumers alike. "I know we did not come back with any wins, but I feel it's been an important experience for us," Brin said.

Because the sale price of the C-block topped the $4.6 billion reserve, auction winner Verizon (VZ - Get Report) must use the spectrum as an open network, allowing any mobile device to run on it. Google had pushed for the development of the C-block into an open network in hopes it would increase wireless competition, as the company plans to launch its free Android cellphone software platform for several manufacturers later this year

As usual, the company did not provide any guidance for the second quarter or the full year.

Google's earnings release comes a week after rival Yahoo! (YHOO - Get Report) reached out to Google to outsource some of its search ads. Yahoo! said it will begin a limited test of Google's AdSense, which will deliver relevant Google ads alongside Yahoo!'s search results.

The news of Yahoo!'s arrangement with Google put a snag in Microsoft's (MSFT - Get Report) quest to acquire the Internet search engine. A day after Google last reported quarterly results, Microsoft offered more than $44 billion for Yahoo!. Should that deal, which Yahoo! hasn't embraced, actually close, it would create a major challenger to Google's dominance in the Internet space.

Thus far, this has been a generally upbeat week for big technology stocks, in terms of their results. In recent days, chipmaker Intel (INTC - Get Report), hardware and software developer IBM (IBM - Get Report) and Internet auction house eBay (EBAY) have all topped analysts' quarterly earnings estimates.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
EBAY $24.43 0.00%
GOOG $693.01 0.00%
IBM $145.94 0.00%
INTC $30.28 0.00%
MSFT $49.87 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs