Google's Shake-Up: Morning Tech Bytes

NEW YORK ( TheStreet) -- Google ( GOOG) rose 2.4% to $641.50 in pre-market trading Friday after posting a fourth-quarter earnings beat and announcing that co-founder Larry Page will replace Eric Schmidt as CEO beginning April 4.

Google's adjusted profit rose to $8.75 per share from $6.79 during the same quarter last year. Analysts had expected adjusted profit of $8.07 per share.

The company generated adjusted revenue of $6.4 billion, beating analyst forecasts of $6.05 billion.

In other Google news, the search giant is reportedly launching a daily deals service, Google Offers. The company has tried to get into the local deals space in the past, offering to acquire Groupon for $6 billion last year.

Advanced Micro Devices ( AMD) was up 1.3% to $8.12, as it beat Wall Street's fourth-quarter earnings estimates, although revenue was flat compared to the prior year's quarter.

The chipmaker reported revenue of $1.65 billion and earnings of 14 cents a share. In the same period last year, AMD generated sales of $1.65 and earnings of 11 cents a share. Analysts were looking for revenue of $1.63 billion and earnings of 11 cents a share.

Hewlett-Packard ( HPQ) was up 0.02% to $46.79 after announcing Thursday it had named five new members to its board of directors, including former eBay ( EBAY) CEO Meg Whitman and Patricia Russo, former chief executive officer of Alcatel-Lucent ( ALA). The appointments, effective Friday, will bring the total number of board members to 13.

Yahoo!'s ( YHOO) Australian subsidiary has acquired deal site Spreets for $40 million, it was announced Thursday. Daily deal site LivingSocial has also looked to expand into the Australian market, snapping up a majority stake in Aussie group buying service Jump On It late last year.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

More from Technology

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Some Companies Are Already Feeling the Effect of GDPR

Some Companies Are Already Feeling the Effect of GDPR

Experts Break Down GDPR Risks for Investors

Experts Break Down GDPR Risks for Investors

Netflix Ready to Surpass Disney as America's Most Valuable Media Company

Netflix Ready to Surpass Disney as America's Most Valuable Media Company