Google share price was taking a sky ride of up to 14 percent in after hour trading after its Quarter 2 earnings topped estimates of analysts, Bloomberg has reported. The investors seemed to believe that Google can keep its costs in check.
Here are highlights of the second quarter results:
- Profit per share was $6.99
- Sales rose by 13 percent to $14.4 billion
- Analysts had expected the profit per share to be $6.73 and sales to be around $14.3 billion mark
- Operating expenses rose by 13 percent which is an improvement over 21 percent in the first quarter.
- Net second quarter income was $3.93 billion which is higher than $3.35 billion in previous year.
- Clicks on ads increased by 18 percent and the average cost per click decreased 11 percent. However the cost per click on mobile has seen an increasing trend.
- YouTube has seen its engagement levels rising and the watch time on YouTube has increased by 60 percent. And the mobile watch time on YouTube has more than doubled.
Based on the results Google shares were reported to be trading at a high point of $683.65.