Google, IBM, RIM, Apple: Tech Premarket
The search giant reported Tuesday revenue of $11.3 billion, excluding traffic acquisition costs (TAC) and earnings of $10.65 a share. Excluding TAC, Google brought in revenue of $14.42 billion, a 36% hike on the prior year's quarter.
Analysts surveyed by Thomson Reuters were looking for revenue of $12.3 billion and earnings of $10.49 a share.
Cost-per-click, a key metric for the company's ad revenue, slipped 6% year-over-year, but climbed 2% sequentially, much to the delight of investors.
Google shares rose 4.85% to $736.99 before market open.
Big Blue reported revenue of $29.3 billion, down from $29.5 billion in the same period last year, but above analysts' estimates of $29.09 billion. Excluding items, IBM earned $5.39 a share, up from $4.71 a share in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of $5.25 a share.
The company's results were boosted by strength in its software business. Compared to the same period last year, IBM's software revenue increased 3% (or 4% adjusted for currency) to $7.9 billion.
IBM shares climbed 4.24% to $204.4 in premarket trading.
Research In Motion(RIMM) shares were also heading higher, rising 1.01% to $18.07, after closing up 13.01% during the most recent trading session.