Google Earnings Coming Out Today After Market Close

Google Q1 earnings report comes out after today's market close. Many consider this report to be a bellweather for the internet industry at large as well as for Google, given Google's massive dominance in the online advertising space.

A key issue is how well Google monetizes search clicks now that they have implemented new quality controls on advertising. Comscore reports suggest that the growth in total paid clicks is diminishing dramatically from earlier levels (though still up from last quarter), but Google has suggested that they now do a better job of pulling revenue from each paid click. This complex algorithmic balancing act between total clicks and revenue per click will largely determine the fate of Google's stock price after the close today.

CNBC has a short Google earnings preview with some of the key analytical issues associated with today's report.

Disclosure: No position in GOOG