Google Still in Favor Despite Earnings Miss

Anderson Klein says it is still bullish on Google despite the company posting results that came in lower than expectations. According to reports by Anderson Klein, search giant, Google, has delivered earnings and revenue results that fell short of Wall Street's expectations as advertising pricing shows continued weakness. The company's stock fell by more than 6% in post-market trading after the company revealed revenues up by 19% to $15.42 billion against consensus expectations of $15.52 billion. "This was a very narrow miss but it was a miss nonetheless and the stock was punished accordingly. Regardless, we see Google as one of the best value technology plays out there. People like Facebook and Twitter are all over mobile at the moment but Google's already there," opined an Anderson Klein tech researcher. Closer analysis of the results showed that while the number of "paid clicks" rose 26% year-on-year in Q1, the average "cost per click" generated by ads fell 9% from a year ago. Many analysts and commentators now regard Google as a utility and with shares trading 40% higher than a year ago, there is still optimism for the company's future. "The company is driving innovation in so many ways and we still think the stock is a great place to invest money," said the Anderson Klein analyst. Earlier this month, Google bought solar-powered drone builder, Titan Aerospace for an as-yet-undisclosed sum citing that it would help the company bring the internet to the two-thirds of the global population that still have no internet access. "We remain of the view that expectations were rather high for Google's results but, when all's said and done, the shares actually ended the post-market session down a mere 95 cents. So much for panic," concluded the Anderson Klein analyst.