Welcome to the twenty-seventh episode of the 'Week in a Nutshell’ series,
Google stock price skyrocketed after the Q2'2015 earnings call on Thursday as Google exceeded the Wall Street expectations for Q2 financial performance.
Google had a very strong second quarter performance based on the Q2'2015 earnings and financial performance announced on Thursday.
Q2'2015 Revenue: $17.7 billion (11% growth vs. $15.9 billion in Q2'2014)
Q2'2015 Profit: $3.9 billion (15% growth vs. $3.3 billion in Q2'2014)
Google stated core search ads performance especially driven by mobile complemented by YouTube and programmatic advertising played an important role in the strong quarterly performance. Other interesting stats shared in the earnings report as well such as YouTube watch time on mobile devices has increased by 50% year over year and also Google has $69.7 billion cash and equivalents as of the end of Q2'2015.
Google stock price skyrocketed thanks to exceeding Wall Street's expectations. Google ($GOOGL) stock price has seen 143.51 points increase (25.81% increase) from $556.11 on Monday morning to the closing price of $699.62 on Friday afternoon.
Google market cap increased by $65 billion on July 17th Friday, the day after the earnings call. To have a better understanding of what this means, let's look at the market caps of other well-known companies such as Hewlett-Packard ($54.8 billion), Uber (estimated as $40 billion) and Twitter ($23.36 billion). It's amazing to a see company at Google's scale to increase its market cap this much in a very short period of time.
Thanks to the strong Q2 performance, Google increased its market cap to $459.2 billion and get closer to Apple (market cap: $740.35 billion) and also extended its lead against Microsoft (market cap: $377.46 billion).
We came to the end of the twenty-seventh episode of ‘Week in a Nutshell’ series. Please comment, share, like and/or recommend this post if you enjoyed it.