NEW YORK (
(GOOG - Get Report)
shares climbed almost 5% in premarket trading on Wednesday after its
soared past Wall Street's earnings forecast.
The search giant reported Tuesday revenue of $11.3 billion, excluding traffic acquisition costs (TAC) and earnings of $10.65 a share. Excluding TAC, Google brought in revenue of $14.42 billion, a 36% hike on the prior year's quarter.
Analysts surveyed by
were looking for revenue of $12.3 billion and earnings of $10.49 a share.
Cost-per-click, a key metric for the company's ad revenue, slipped 6% year-over-year, but climbed 2% sequentially, much to the delight of investors.
Google shares rose 4.85% to $736.99 before market open.
(IBM - Get Report)
was another gainer, rising more than 4% after the tech giant beat Wall Street's estimates in its own
, released on Tuesday.
Big Blue reported revenue of $29.3 billion, down from $29.5 billion in the same period last year, but above analysts' estimates of $29.09 billion. Excluding items, IBM earned $5.39 a share, up from $4.71 a share in the prior year's quarter. Analysts surveyed by
were looking for earnings of $5.25 a share.
The company's results were boosted by strength in its software business. Compared to the same period last year, IBM's software revenue increased 3% (or 4% adjusted for currency) to $7.9 billion.
IBM shares climbed 4.24% to $204.4 in premarket trading.
Research In Motion
shares were also heading higher, rising 1.01% to $18.07, after closing up 13.01% during the most recent trading session.
The company's shares
on Tuesday after CEO Thorsten Heins told German newspaper
that he may license the BlackBerry OS to other manufacturers.
Rumors continue to
around RIM's forthcoming BlackBerry 10 devices, which the company will
at an event on Jan. 30.
(FB - Get Report)
also continued its recent momentum, rising 1.08% to $31.06 after closing up 3.6% on Wednesday.
Check Point Software
(CHKP - Get Report)
rose 0.35% to $48.14 as investors digested the security specialist's fourth-quarter results, released early on Wednesday.
Check Point reported revenue of $368.6 million, a 3% increase on the prior year's quarter and earnings, excluding items, of 91 cents a share, an 8% year-over-year hike. While the company's earnings beat Wall Street's forecast of 88 cents a share, analysts surveyed by
were looking for sales of $373.74 million.
(TXN - Get Report)
shares dipped 0.78% to $33.20 after the semiconductor specialist
analysts' fourth-quarter estimates, but warned of weak demand.
(AAPL - Get Report)
shares rose 0.17% to $505.65 in premarket trading after closing up 0.95% on Wednesday. The iPhone maker reports its fiscal first-quarter results after market close.
will be live-blogging Apple's earnings announcement, starting at 3:45 p.m. EST:
--Written by James Rogers in New York.
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