Second quarter earnings and outlook for Google (NASDAQ:GOOG) came out yesterday, making this stock one to keep an eye on today. The internet company posted an EPS of $10.12, above analyst estimates of $10.04. Revenue for the quarter rose 12% to $8.36 billion, just $50 million shy of what analysts were expecting. The interesting thing to note is Google's advertising report. The internet giant's cost per click, that's the amount the advertiser pays Google per click, fell 16%, more than what was expected. And even though the company got a 42% rise in paid clicks, this could indicate some changes in online advertising market. More companies are expecting to pay less to post their ads online. And, while this won't affect Google that much, it could be trouble for smaller advertising distributors who don't have as big of a market share as the internet giant. Currently, Google is up over 1% to $600.21.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...