Analysts are anticipating Google to post robust third-quarter results coupled with significant recovery in revenue growth, driving shares of the search engine giant to reach a one-year high.
Google’s chief executive Eric Schmidt has already announced that the worst of the economic recession is ended, framing-up financial prospects for the third-quarter net revenue to register a subtle increase.
Revenues for the search giant plunged for the first time in the first quarter from the same period a year ago, while second quarter revenues remained somewhat steady.
A series of estimates depicting a strong third-quarter performance by the search company further strengthened the faith of the investors with Google’s stock reaching to $525.76 early Monday, showing a notable 1.8 percent hike, and making the company’s value worth $160 billion.
The average analyst estimate excluding traffic acquisition charges, the part of the sales in which the Google’s partners have their shares, is found to be clocked at around $4.23 billion, registering a 3.7 percent rise from the last quarter and 4.7 percent on year-on-year basis.
However, Google is still not matching its previous standards, and seems to be struggling to attain the double-digit growth it once enjoyed, as its ventures into comparatively new domains, including smartphone as well as internet display advertising, are yet to yield substantial results.