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Google Earnings Review: 18 Days after Announcement Shares Up 11.7% (GOOG)

Published on Sat, 02/09/2013 - 09:14
By Adrienne Chilton

When Google (NASDAQ:GOOG) reported earnings 18 days ago on January 22nd, 2013, analysts, on average, expected the company to report earnings of $10.50 on sales of $12.4 billion. The company actually reported EPS of $10.65 on sales of $14.4 billion, beating EPS estimates by $0.15 and beating revenue estimates by $2.1 billion. Shares of Google have climbed from $702.87 to $785.37, representing a gain of 11.7% since the company reported earnings 18 days ago.

Google has overhead space with shares priced $785.37, or 4.7% below the average consensus analyst price target of $824.35. The stock should discover initial support at its 50-day moving average (MA) of $723.75 and subsequent support at its 200-day MA of $665.92.

Google Inc. is a global technology company that provides a web based search engine through its website. The Company offers a wide range of search options, including web, image, groups, directory, and news searches.

Over the past year, Google has traded in a range of $473.02 to $786.67 and closed Thursday at $785.37, 66% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has risen 0.6%.

By Adrienne Chilton