New Google CEO Larry Page proved critics wrong with a Google fiscal second quarter earning which exceeded analysts expectations.
That is a 36-percent boost compared to the same period last year which saw the company earn $1.84 billion, or $5.71 per share.
Had Google excluded employee stock compensation, the figure would have been earnings of $8.74 per share which is higher than an expected $7.84 per share performance.
Page took over from decade-long CEO Eric Schmidt on April 4 after the company announced on January that the co-founder will relinquish the role he once held at the company with co-founder Sergey Brin.
This news then prompted alarm from analysts and investors alike who were worried that Google will not flourish under Page’s guidance especially since Page has a different managing style compared to Schmidt.
Page remained confident, however, as he said that: “I am very happy with our progress here.”
“Focus and prioritization are crucial, given our amazing opportunities. Indeed, I see more opportunities for Google today than ever before, because, believe it or not, we are still in the very early stages of what we want to do,” he said.
Meanwhile, the company reported revenue of $9 billion and $6.9 billion after commissions. This is $400 million above consensus estimates.