Afterhours was actually where the action was at. In the form of my favourite search engine, Google. I do also use Safari, but I associate almost all searches with Google, even if this is not the case. Third quarter profits when measured against last year surged 32 percent to 2.17 billion Dollars. Call it 6.72 a share worth of earnings, annualise that (matchbox on the fly valuations) and you get to around 27 bucks. 588 bucks pre market, up 47 Dollars a share post the close. That is nearly nine percent, yowsers. But that is an earnings multiple in of around 25 times earnings. Next year the expectations are for the company to earn in the region of 31.33 bucks a share. So even close to 600 bucks less than 20 times forward earnings.
And folks who were worried about Google getting sidetracked, no worries, here is the outlook from Eric Schmidt: i>"Our core business grew very well, and our newer businesses -- particularly display and mobile -- continued to show significant momentum. Going forward, we remain committed to aggressive investment in both our people and our products as we pursue an innovation agenda."