Google has officially released their Q3 earnings report, adding that the initial report was erroneously released early and “financial results reported in the prior Form 8-K have not changed.”
Quote from Larry Page: “We had a strong quarter. Revenue was up 45 percent year-on-year, and, at just fourteen years old, we cleared our first $14 billion revenue quarter. I am also really excited about the progress we’re making creating a beautifully simple, intuitive Google experience across all devices.”
Employers in July hired the most workers in five months, but an increase in the jobless rate to 8.3 percent muddled the near-term outlook for monetary policy.
Nonfarm payrolls rose 163,000 last month, the Labor Department said on Friday, beating economists’ expectations in a Reuters poll for a 100,000 gain. That snapped three straight months of job gains below 100,000 and offered hope for the struggling economy.
However, the unemployment rate rose from 8.2 percent in June, even as more people gave up the search for work and a survey of households showed a drop in employment.
The closely watched employment report comes two days after the Federal Reserve sent a stronger signal that a new round of major support could be on the way if the faltering recovery does not pick up.
Most economists had expected the Fed would launch a third round of bond purchases, possibly at its next policy meeting on September 12-13. But the mixed employment report has muddied the picture a bit.
Sixty-four percent of people surveyed in a new Reuters/Ipsos poll on sugary drinks think New York Mayor Michael Bloomberg’s proposal to regulate the sale of sugary drinks in large volumes gives the government too much control over a person’s decision about their own diets. [REUTERS]
Job growth braked sharply in May and the unemployment rate rose for the first time since June, putting pressure on the Federal Reserve to ease monetary policy further to shore up the sputtering recovery.
The Labor Department report on Friday, which showed employers added a paltry 69,000 jobs to their payrolls last month, the fewest since May last year, is also troubling news for President Barack Obama ahead of November’s elections.
The unemployment rate rose to 8.2 percent from 8.1 percent partly because people flocked into the labor market.
Economists polled by Reuters had expected nonfarm payrolls to increase 150,000 and the jobless rate to hold steady at 8.1 percent.
Wal-Mart Stores Inc posted a better-than-expected quarterly profit on Thursday as more people shopped its established U.S. discount stores and spent more money.
The world’s largest retailer, which was recently rocked by allegations of bribery in Mexico, earned $1.09 per share from continuing operations, compared with a profit of 98 cents a year earlier.
An earlier Easter and warmer weather contributed to the gains, the company said.