Google Share Price Hits All-Time High Ahead of Q2 Earnings Report
iNVEZZ.com Tuesday, July 16th: Shares in U.S.-based Web search giant Google Inc. (NASDAQ:GOOG) have risen by almost six percent in the past month alone. Having gained momentum, yesterday the stock hit an all-time high of $927.80, reflecting investor optimism regarding the quarterly earnings report due to be released on Thursday.
Google is due to announce financial results for the second quarter of the year and according to market participants, the report is likely to determine whether the Google share price will extend its advance towards the $1,000 mark.
According to FactSet, analysts on average expect earnings of $10.81 per share on revenue of $11.4 billion. The earnings projection excludes the costs of employee stock compensation and the revenue figure excludes Google’s advertising commissions.
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**Head of Google China Leaves Post, To Be Replaced By Executive from Europe**
Google announced in a statement yesterday that its vice-president and Greater China president, Liu Yun, had stepped down to pursue other opportunities. His replacement will be Scott Beaumont, who currently runs the company’s partnerships business in Europe. Beaumont will move to his new position in mid-August.
**After climbing to an all-time high, Google’s share price pared some of its gains and closed yesterday’s trading session at $924.69, just 0.18 percent above the previous day’s closing level.**