Google's Results Are Positive For Online Advertising And E-Commerce, Jefferies & Company Reports

Jefferies & Company reports that its early read into 3Q from Google, Inc.'s

results is positive both for online advertising and e-commerce. “The company's strengthening position in Display bodes well for Google but also for the industry at large, as it reflects growing interest by brand advertisers in the online medium,” Jefferies & Company writes. “Google delivered results well above the Street's estimate and 30% above last year's NEPS. Volume of paid-clicks, which grew 16% Y/Y speaks to consumers' e-commerce appetite, while pricing growth of 3% Y/Y speaks to advertisers willingness to outbid each other for commercial queries.” Google closed Friday at $601.45.