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Google earnings: What to watch for

Big Data Download

Google reports earnings after the bell on Thursday, and a few key data points could give investors a better idea of what's in store for the company, according to one analyst.

In particular, investors should be looking at the company's tangible book value per share, said Skip Aylesworth, portfolio manager at Hennessy Funds.

"It's like your net worth. You make some money, you spend some money and the leftover you put in the bank. And what's left over is your net worth. So tangible book value is a way of looking at true net worth of a company," Aylesworth explained.

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Google's tangible book value per share has been growing sequentially, according to Aylesworth. By the end of June 2012, Google's tangible book value per share was about $143. But in the quarter ending March 2013, Google's tangible book value was $174, Aylesworth said.

Of course revenue is another major point investors should be listening for from Google (GOOG), but not just because it indicates how healthy the company is. It may also be an indicator of how the tech sector is doing globally, according to Aylesworth.

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"When you look at the simple revenue number for the quarter, we'll be able to tell not only how is Google doing, but we'll be able to see how other parts of the world are doing. So that's a very good kind of metric test of what's going on in the tech sector," Aylesworth told "Big Data Download."

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