Wedbush Comments On Google 1Q11 Earnings Call

According to Wedbush, Google (NASDAQ: GOOG) saw modest upside driven by paid clicks.

Wedbush reported that it believes 1Q10 revenue and EPS should exceed expectations given strength from international search and display when Google reports 1Q11 earnings on April 14th with a conference call at 4:30pm EST. “Our 1Q11 net revenue estimate is $6,376 million, which is modestly above consensus of $6,322 million and our pro foma EPS estimate of $8.17 is also modestly above consensus estimate of $8.13. Reiterating our OUTPERFORM rating and $750 price target. Our price target is based upon our DCF analysis (Figure 8) and represents 14x our pro forma FY12 EPS estimate, which is a discount to our long-term growth rate of 17%.”

Google closed yesterday at $577.37.