Google had an amazing run in the market today after a positive surprise earnings yesterday. The stock rebounded nearly $90 to close at $539.41. This after a pretty depressing 4-month decline. While analysts predicted profit of $4.52/share, Google had profit of $4.84.
Frankly, I love when stock analysts are wrong as it provides excellent buying opportunities for the non-analysts. Predicting the future is almost impossible. Look at weathermen for example-- same thing!
But that's nothing new. What I really love about these earnings is how comScore was involved. Just 2 months ago, comScore reported that Google had very slow growth in paid clicks. You might remember this announcement when Google sank to a 52-week low for the first time. Ever. In any case, it turns out that comScore was completely wrong, and in fact Google saw 42% YoY growth. I'm glad investors seemed to remember this and incidently their share price tanked. In result, comScore has since tried to issue press releases with various reasons for the "miscommunication." Oh, please.
