Google Inc (NASDAQ:GOOG) is all set to report its third quarter earnings today after the market close and analysts are bullish on the company.
For the latest quarter, analysts are projecting the company to post $10.65 a share, up from a year ago profit of $9.72 a share and revenue is projected to grow by 58% to $11.87 billion from $7.51 billion.
After the recent volatility trend in cost-per-clicks, or CPCs, this time analysts are expecting the compamy to stabilize.
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Shares of the company have done quite well and rose 27% ever since it reported its second quarter earnings despite the fact that online advertising is struggling to gain momentum amid economic uncertainty.
This morning, analyst at Needham lifted its price target on the stock by 10% to $825 and retreated its Buy rating. The firm expects upside to estimates from an increase in global search spending.
In the second quarter the Internet search giant reported earnings of $11 billion, a rise of 21 percent on year and an increase of 3 percent sequentially.
Its revenues rose 35 percent on year to $12.2 billion, which included figures of Motorola.
Shares of the company are down 0.60% to $751.20.
Microsoft Corporation(NASDAQ:MSFT) is another tech giant which is all set to report its quarterly earnings later today.
The world's largest software company, Microsoft Corporation(NASDAQ:MSFT) is seen reporting weak quarterly earnings when it announces its results for the September quarter on Thursday.
Analysts expect Microsoft to report adjusted earnings of 61 cents per share. For the quarter ending in June Microsoft had reported its first loss ever as it had to write down the value of its Internet advertising firm aQuantive.
Analysts are expecting a profit in the fiscal first quarter, but revenues that would be lower than what was reported in the March 2011 quarter.
According to reports, analysts are split on whether they are factoring in the deferral of revenues from Windows 7 and Office 2013, and the average earnings forecast may not match up well with real expectations.
How Should Investors Trade MSFT Ahead of Earnings? Find Out Here