Googles stock soars

Google's stock price soared in after hours trade beating analysts estimates 

Google's stock rose 9.1 percent, or US$49.07, to $590 in after-hours trading. That's the highest level the stock has seen since it hit $597.84 during mid-day trading on April 15.

To add to the good news, the company reported its third quarter net income increased 32 percent year-on-year to $2.17 billion, while its revenue rose 23 percent to $7.29 billion. Beating analyst expectations. 


Patrick Pichette, Google's chief financial officer had this to say in a conference call following the announcement:

"We're very pleased with our Q3 results, and it's clear that the digital economy continues to grow rapidly."

Net income was $2.17 billion, a 32 percent increase compared to net income of $1.64 billion a year ago. Earnings per share, excluding the effects of certain one-time costs and stock option compensation costs, were $7.64, as compared to analyst estimates of $6.67.

Google now has $33.4 billion in cash or cash equivalents, many are asking will the companies Growth ever slow?