Google reported their 2nd quarter financials on Thursday in Mountain View California. Google CFO Patrick Pichette reported earnings in this second quarter of 2010 of 1.84 Billion up 24% from same quarter last year, although missing analyst marks reported by Thomson Reuters.
Google is still the top dog when it comes to “internet stocks” by huge volumes. For example, Friday Microsoft closed at $24.89. Apple closed at 10x Microsoft at $249.90 and Google closed at nearly double
that of Apple at 459.61
During the conference call to report 2Q earnings Justin Post of Merill Lynch asked where Google sees the investment of Android paying off putting into consideration that Android is free and any earnings they would have seen from the Nexus One have now been quashed. Pichette responded that Android is not “A Heavy Resource” investment however the most used Android app is the browser and consumers of course “search” on the browser.
In other Google Mobilew news, Google completed it’s purchase of Admob and added 2,000 employees in the process.
Although the spin on the net from financial news sites is not as bright as expected is it really bad when a company earns $1.84billion and yet hits their mark.