29 Aug '15, 8am

#Google Stock Price Soars on Strength of Mobile Ad Business - Search Engine Journal

#Google Stock Price Soars on Strength of Mobile Ad Business - Search Engine Journal

Google’s stock price shot up immediately on Friday, rising nearly 15% following the previous day’s earnings call with new CFO Ruth Porat. Porat announced profits that handily beat Wall Street estimates — second-quarter revenue totalled $14.35 billion, an 11% increase, resulting in a profit of $6.99 a share. Google’s reported revenue of $14.35 billion is up from Wall Street’s estimated $14.28 billion. Revenue growth is largely credited to the strength of Google’s mobile ad business during the second quarter. This comes at a time when investor confidence in the mobile ad division was on shaky grounds. Google’s soaring stock price is an indication that the company has renewed investor faith in mobile. CFO Ruth Porat also credits higher-than-expected profit numbers with growth in search, and a YouTube audience that’s larger than ever: “Our strong Q2 results reflect continued g...

Full article: http://www.searchenginejournal.com/google-stock-price-soa...

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