Wall Street rallied Friday on Google's better-than-expected profit report.
Shares of Google, the online search giant, surged Friday as its first-quarter earnings and revenue growth topped analysts' predictions.
Citigroup, the U.S. biggest bank, also encouraged investors after posting results that didn't contain any big surprises. The New York-based bank reported a loss of 5.1 billion dollars in the first quarter.
Investors have been worried that a slowing economy would drag down profit growth at big companies. However, earnings reports shown so far are meeting or beating expectations.
The Dow Jones industrial average advanced 228.87, or 1.81 percent, to 12,849.36. The Standard & Poor's 500 index increased 24.77, or 1.81 percent, to 1,390.33, and the Nasdaq composite rose61.14, or 2.61 percent, to 2,402.97.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article