It isn’t too common for Wall Street analysts to be very wrong. They have good indicators and past performances upon which to generate their predictions and it’s often more accurate than the weather. With Google’s Q4 2012 analysis, they were wrong by a mile even at Google’s revenue standards.
They reported $14.42 billion in the last quarter and earnings per share of $10.65 on a non-GAAP basis. Analyst had expected that Google would have revenues of $12.3 billion.
“We ended 2012 with a strong quarter,” said Larry Page, CEO of Google. “Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year – not a bad achievement in just a decade and a half. In today’s multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It’s an incredibly exciting time to be at Google.”
Not bad at all, Mr. Page. Not bad at all.