Google Earnings, Earnings Whispers, and What In the World?


Google frustrated Wall St. bears, earnings whisperers, and the world’s most bearish bloggers today by beating analysts’ earnings estimates.

Listeners on the Google conference call could virtually hear the sound of much gnashing of teeth from naysayers who cried doom and gloom this quarter.

The news was so good you’d think Quattrone was in the house.

Google blew away all revenue predictions, posting $5.19 billion for the first quarter, a 42% increase over the first quarter of 2007 and an increase of 7% compared to the retail and holiday-driven fourth quarter.

We’ll have more on what the Q1 call means to search marketers later. (It’s all good.) But first: the biggest dissappointment was the early departure of Paul Kedrosky of Infectious Greed fame who had to drop off the call early to catch a flight in the middle of live-blogging commentary.

Paul showed how far off the mark Citigroup analyst Mahaney was:

“Here is how Google came in versus one cheat sheet (Mahaney’s at Citi) floating around out there:

* Net revenues — Forecast $3.54b / Actual: $4.0b
* Earnings — Forecast: $1.76b / Actual $1.83b
* EPS: — Forecast: $4.50 / Actual: $4.84″

Paul also had some of the best and funniest con call commentary on his blog, so we’ll share a few blog bytes with our readers (and the few remaining GOOG bears out there). Paul’s capital expenditures (CapEx) comment came pre-call just after Google announced earnings results to the media (and the world):

What. in. the. world. are. these. GOOG. guys. building?

Google CapEx in Context. Moon base Theory, Redux.

For you conspiracy theorists — Google’s building a moon base! Google’s building a moon base! — here is the last five quarters of Google’s re-spiraling CapEx …

Sergey tipping 100 improvements in search introduced in quarter. Not to be rude, but does this deserve so much time?This is awfully inside search-baseball for the opening of an earnings call.

Wait. Sergey talking mobile. Something coming? News? Oh, language versions. Mobile search traffic “growing rapidly”. Great, glad to hear that. I was so worried. YouTube? “Mobile video traffic growing rapidly” too. Another load off my mind. Not.

Ten hours of new video going up onto YouTube every minute. No idea what that actually means in monetization, but it’s a great stat for future presentation porn. Whoa, and Dunkin’ Donuts uses YouTube.

Catch Paul on CNBC tomorrow morning — and for breakfast?

Rumor has it Google will be serving crow for any bears who wander by the Googleplex.

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