Google’s Profit, Sales Top Estimates as Ads Recover

Google’s Profit, Sales Top Estimates as Ads Recover

Google Inc. reported a 27 percent increase in third-quarter profit, beating analysts’ estimates, after the recovering economy boosted demand for online ads and e-commerce. The shares gained in late trading.

Net income rose to $1.64 billion, or $5.13 a share, from $1.29 billion, or $4.06, a year earlier, the company said today in a statement. Excluding revenue passed on to partner sites, sales were $4.38 billion, compared with an estimate of $4.25 billion in a Bloomberg survey of analysts.

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Google stock was up 3% in after hours trading today at 547$.

Top Stocks: Money Flow

Here are the top individual stocks in terms of money flow. A negative number means that as the stock rises, there is increased selling of shares. A positive number means that as shares sink, buyers come rushing in.

Inflows (buying on weakness):

• Google (GOOG)= +$70 million
• Citigroup (C) = +$66 million
• CVS (CVS)= +$51 million
• Ciena (CIEN) = +$35 million

Outflows (selling on strength):

• Kraft (KFT) = -$137 million
• Apple (AAPL) = -$119 million
• AT&T (T) = -$99 million
• Microsoft (MSFT) = -70 million

(Source: ValuePlays)

eBay Goes To Radio

eBay Inc. has decided to begin auctioning advertising airtime on 2,300 participating U.S. radio stations, expanding on an existing plan to sell cable television ads. This move will put eBay in direct competition with Google. eBay sees hundreds of thousands of sellers in its online auction markets as potential advertisers within the media marketplaces it is seeking to develop. The ad auction push has met with some resistance from broadcasters who fear the auctions could put stiff pressure on advertising rates.