GOOGLE MISSES on both EPS and REVENUE yet stock still higher after hours, amazing isnt it...
Stock should be off about 5% on this news.....
The company posted first-quarter earnings per share of $6.57, compared to $6.27 a share in the year-earlier period.
Revenue for the quarter came in at $17.26 billion, against the comparable year-ago figure of $15.42 billion.
Analysts had expected Google to report earnings of about $6.60 a share on $17.50 billion in revenue, according to a consensus estimate from Thomson Reuters.
The stock rose more than 3.5 percent in after-hours trading immediately after the earnings figures were announced.
The Internet giant said the first-quarter saw a 13 percent year-of-year gain in aggregate paid clicks. Analysts had expected a 14.8 percent gain, according to StreetAccount.
Google's aggregate cost-per-clicks fell 7 percent year-over-year, the company said, while the StreetAccount consensus had only expected a 1.9 percent decline.
The company pointed in part to currency exchange, saying in its earnings release that revenue grew "a healthy" 17 percent from a the year-ago period excluding the net impact of foreign exchange. With currency taken into account, that revenue growth was only 12 percent year-over-year.
Capital expenditure for the first-quarter came in at $2.93 billion—analysts had expected $2.49 billion, according to StreetAccount.
Earlier this week,
the tech giant announced the launch of a new wireless service that will enable customers to pay only for the data they use and use Wi-Fi networks to curb data use and keep phone bills low.
The service, Google's first entry into the wireless industry, will work only on the company's Nexus 6 phones and will be hosted through
Sprint and
T-Mobile's networks, Google said in a statement.
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The phones will also be able to switch between the two networks, depending on which signal is stronger. The network, called Project Fi, will cost $20 a month plus $10 per gigabyte of data used.
Google is also planning to expand its Google Fiber Internet service, which could have
implications for businesses across the country.
—Reuters contributed to this report.