Google posts impressive Q3 figures

After-hours trading has driven Google shares up to $960 after institutional analysts upgraded their price targets.

Google's latest set of quarterly figures are impressive as a standalone performance. But when assessed in a bigger context – and in comparison with Yahoo’s figures out earlier this month – the internet search engine company not only looks to be maintaining its healthy lead but extending it.

The continuing trend has again seen the price paid per click by clients fall, this time by 8%; however Google has managed to balance this potential loss of earnings with a jump of 26% for total paid-for-clicks. This slide in the price volume can only afford to continue for so long, but for the time being profits remain buoyant.

Google also owns YouTube, and here it is seeing a continuing migration in underlying consumer demographics. Two years ago 6% of videos viewed on YouTube were done so on portable devices – that figure has now exploded up to 40%

With a jump of 8% in after-hours trading and target prices predominantly north of $1000, the 75% of IG client accounts long on Google could look forward to even more blue sky.

Google chart

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