Google reports great results

Google reported numbers post the market close and seemingly the aftermarket is telling you that they have been well received. Currently in the extended trade part of the market, Google are up 6.37 percent to 594.6 Dollars a share. Year to date they are lower by 5.89 percent, this gain in the aftermarket would put them slightly higher on the year. Yip, it has been a tough old year. Although Google+ is up to 40 million users (I am one) how many people actually use the service actively yet? Does not matter for now, it will come, I remember the same sort of start up phase with Facebook. Sales climbed 33 percent when measured against the corresponding quarter last year, up to 9.72 billion Dollars. Revenue from outside of the US climbed to 55 percent of the groups total revenue, pleasing the company no doubt!!

AdSense was more than a quarter of all revenues, but the bulk of revenues ceomes from the owned sites still: "Google-owned sites generated revenues of $6.74 billion, or 69% of total revenues, in the third quarter of 2011. This represents a 39% increase over third quarter 2010 revenues of $4.83 billion." Oh, that is from the official release, well one of the sources that I found anyhow: Google Announces Third Quarter 2011 Financial Results. Nice, serve your stuff off your platform.

Non-GAAP EPS, the number everyone was after clocked 9.72 Dollars, I guess the annual run rate would be closer to 40 Dollars. So I guess a price of around 600 Dollars is not that expensive for a company that is slowly (perhaps not so slowly) changing the landscape of the internet, 15 times forward earnings. Sounds cheap(ish). Listen (Read I mean) to this though -> "Cash – As of September 30, 2011, cash, cash equivalents, and short-term marketable securities were $42.6 billion." My daughter would skew her face up and say, "Huh"? Quite right folks, if the share price opens at the higher indicated price of above 590 Dollars a share, roughly 22.2 percent of that will be all cash. Or, nearly 132 Dollars a share worth of cash (and equivalents). So, minus the cash and the earnings forward are just below 12 times forward. Wow. Seems even cheaper now, even after the price popped. Cheaper than almost ever before.