Google Expected To Deliver Low Double-Digit Growth

Shares of Google Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) are surging on Thursday, ahead of the announcement of the company’s second quarter financial results scheduled for after the market closes.

According to Estimize, earnings are expected to come in up more than 11 percent year-over-year. The Street is modeling consensus earnings of $6.76 per share on revenue of $14.347 billion. Meanwhile, the crowd is projecting consensus earnings of $6.77 per share on sales of $14.383 billion.

See Also: What Has Wall Street Been Saying About Google?

These figures compare to earnings of $6.08 per share and revenue of $12.67 billion reported in the second quarter of 2014, and earnings of $6.57 per share on revenue of $13.913 billion registered in the latest quarter.

The second chart illustrates the evolution of sentiment over time. Both the Street and the crowd have been becoming increasingly bearish on results as the earnings date loomed. Consensus estimates now stand at their lowest.

Mixed Analyst Opinion

As outlined in a recent article, investors and analysts have mixed expectations for Google’s earnings report. B. Riley & Co. analyst Sameet Sinha expects revenues to be in-line with estimates and EPS slightly ahead of consensus.

Global Equities Research analyst Trip Chowdhry is a little concerned about the company and remains cautious.

Deutsche Bank analyst Ross Sandler is modeling earnings of $6.47 per share and overall gross revenue of $14 billion (both below consensus).

Axiom’s Managing Director of Internet Media Victor Anthony projects net sales of $14.3 billion and adjusted earnings of $6.78 per share.