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Even the worst earnings announcements try to spin things in a positive way; it's necessary to do a little deep-reading to find out what really happened.  comScore's first-quarter earnings just didn't have any bad components, though, and the company's stock is up about 20 percent this morning as a result.

Revenue, earnings per share, subscription renewal rate - comScore nailed just about everything.  To start with that first category, it brought in $26.37 million, which represents a 41 percent increase over the same period last year.

 Magid Abraham

As for those non-GAAP EPS, comScore managed $0.18 compared to the $0.10 Eric Savitz names as analysts' consensus estimate.  And Magid Abraham, the CEO and president of comScore, stated, "The quality of our client relationships is reflected in our revenue growth amongst existing customers of 38 percent and a subscription renewal rate that was 93 percent this quarter."

So it seems all is forgiven relating to the maybe-screwup of Google's paid click numbers.  comScore's stock took a bit of a slide following that miscommunication, yet its current level - $23.67 - is close to a three-month high.  Maybe investors took its side in the end.

ComScore is predicting a future that's just as bright as its first quarter, by the way, so it's unlikely that a reversal will occur in another three or six months.