Google’s share price soared late on Thursday, rallying 25 per cent from its low point of the day, as the internet search company’s latest quarterly earnings proved resistant to the wider downturn in advertising markets.
Google’s pro forma earnings, excluding stock compensation costs – the basis on which most analysts assess the company – rose to $4.92 per share, ahead of Wall Street’s consensus forecast $4.81. Revenues net of traffic acquisition costs rose to $4.04bn, broadly in line with most forecasts.
