Showing posts with label expectations. Show all posts
Showing posts with label expectations. Show all posts

Monday, July 18, 2011

Google profits beat expectations

14 July 2011 Last updated at 21:05 GMT Google logo Google boss Larry Page said the company had "a great quarter" Internet giant Google has reported a large rise in profits and revenue, well ahead of market expectations.

Net profit for the three months to June rose 36% on the same period last year to $2.5bn (?1.5bn), while revenues rose 32% to $9bn.

Last month, Google launched its social networking site Google+, in an attempt to take on Facebook.

The results were the first under chief executive Larry Page, who replaced Eric Schmidt in April.

Mr Schmidt had held the role for 10 years. Analysts said the decision for Google co-founder Mr Page to take over was made because he now carries more weight with investors and could re-energise the search giant.

The results will help reassure investors that the company is still thriving under his leadership.

"We had a great quarter," said Mr Page. "I'm super excited about the amazing response to Google+."

'Six-trick pony'

Shares in Google surged 11% in extended trading.

Jordan Rohan, an analyst at Stifel Nicolaus, said the results were "well beyond expectations from Wall Street".

"Clearly, the combination of mobile search, Android, ad exchange, YouTube, and the core search businesses, they're all doing well," he said.

"Google is no longer a one-trick pony. You might say six-trick pony if you count Google+."


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Sunday, July 17, 2011

Wave device exceeds expectations

14 July 2011 Last updated at 09:30 GMT Top section of the PB150 PowerBuoy lying on its side The top section of the PB150 PowerBuoy lying on its side A wave power developer has said tests of a device off Scotland's coast exceeded expectations.

US-based Ocean Power Technologies (OPT), which also has offices in Warwick, Warwickshire, deployed the machine from Invergordon, Easter Ross.

The trials of the PB150 PowerBuoy required the consent of the Scottish government.

OPT has also been developing wave energy devices for powering US Navy and Marine Corps bases.

The tests off Scotland are mentioned in the company's latest financial results.

OPT said it had successfully deployed the PB150 PowerBuoy off the coast of Scotland on 15 April 2011.

It said initial reported power levels for the system had outperformed expectations.

OPT added: "The company believes the capacity factor represented by these results exceeded that experienced by most other renewable sources."


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