Awaiting Google (GOOG)

Google Inc.'s (GOOG - FusionIQ Master Technical Rank - 53) which reports 2nd quarter earnings after the stock market closes Thursday gives investors another look at how to assess how well the Internet search leader is holding up in a slumping U.S. economy. Here are some of the key issues likely to sway the stock market's reaction. 

Though its growth rate has decelerated as revenue has ballooned, Google is still growing at a rapid clip.  Revenue rose 42 percent in the first quarter and analysts are projecting an increase in the same range during the latest quarter ended in June, despite the financial turmoil that's hurting scores of other businesses.  The extensive reach of Google's search engine outside the United States is one of the biggest reasons why the Mountain View, Calif.-based company is still faring so well. International markets accounted for more than half of Google's revenue for the first time in the first quarter and even more revenues is expected to pour in from outside the United States in the second quarter.

For the record FusionIQ's predicted surprise is predicting a marginal upside surprise.

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