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Live Bloggin' Google's (Nasdaq: GOOG) earnings report

Begins @ 4:00pm EST
Host: Andrew Horowitz, money manager and author
The Disciplined Investor


16:01 GOOG prelim $4.84 vs $4.52 First Call consensus; revs $3.7 bln, ex TAC revs vs $3.61 bln First Call consensus.

Google reported revenues of $5.19 billion for the quarter ended March 31, 2008, an increase of 42% compared to the first quarter of 2007 and an increase of 7% compared to the fourth quarter of 2007. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs, or TAC. In the first quarter of 2008, TAC totaled $1.49 billion, or 29% of advertising revenues.

16:10 Stock is in major rally mode, the earnings beat on revenue was a major sigh of relief as there was significant concern about the Doubleclick integration (GOOG up $40 on evening, so far). Currently trading @ $503.

16:15 Stock at $497, leveling off ahead of call. Numbers in and tabled. Overall, there is a cheer and a good amount of relief.

16:20 Chart is looking good...