Google Inc's overhaul of its operating structure is an acknowledgement of the lack of transparency surrounding its disparate businesses and projects, analysts said, but it remains to be seen how much more the company will actually disclose.
The markets had been expecting Q2 earnings season to be negative, with earnings and sales growth both dipping. However, that is not the way things are going so far. There have been some notable earnings beats with Google, Bank of America, and Citigroup all posting better than expected results for the three months to June.
Google Inc.'s shares surged as much as 14.5% on Friday, adding about $50 billion to its market value, as strong growth in mobile ad revenue allayed concerns its YouTube business could be hurt by Facebook Inc.'s push into video.
The Obama administration has been locked in internal wrangling over what position to take in high profile litigation between two American technology giants, Google and Oracle, according to multiple sources familiar with the discussions.