Posted April 20, 2006 2:56 pm by with 0 comments

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According to Bambi, analysts are confident in their projections for Google’s Q1 earnings.

[Google is] expected to post earnings excluding stock-based compensation of $1.97 a share, up 53% from the year-earlier period’s $1.29 a share.

Sales excluding expenses Google pays to its distribution partners are estimated to grow 85% to $1.47 billion from $795 million.

We’ll know if they’ve got it right, when Google announces after the closing bell today.

UPDATE: Here’s the official numbers

Net income for the first quarter rose to $592 million, or $1.95 per diluted share, compared with the year-earlier quarter’s $372 million, or $1.29 per diluted share. Revenue rose 79 percent to $2.25 billion — compared with Wall Street forecasts for 63 percent to 78 percent growth.

Excluding one-time items and stock-based compensation, Wall Street analysts were looking for a consensus profit of $1.98 per share. Including these items, net profit, on average, was expected to be $1.73 a share, according to Reuters Estimates.

UPDATE 2: says Google Blows the Doors Off.

Investors were duly impressed with the blowout performance, which came just a quarter after Google’s first-ever earnings-related black eye. A steep shortfall reported Jan. 31 sent the stock into a tailspin from which it has yet to fully recover.

“True to form, they continued to grow and outgrow what the Street had been looking for,” says Jeff Kampner, sector manager at Solaris Asset Management, which owns Google shares. “It looks like the margins held up nicely. That’s the part I am surprised by.’