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Google is Human After Share Price Drops with Announcement of Earnings Missing the Mark |
| Thursday, July 19, 2007 |
Search engine giant Google (GOOG) fell back to earth on Thursday as share price dropped with the announcement that earnings missed the mark last quarter. While reporting a strong increase in revenue and earnings for the second quarter Google reported that profits fell slightly short of expectations. According to Forbes.com, the Mountain View-based company's quarterly profits had never before improved by less than 60 percent, so Wall Street viewed Google's latest results as a major letdown. It just shows you how tough it is to stay on top when everyone is gunning for you. Google's earnings were only up 28 percent despite a nearly 60 percent increase in revenue. Earning were only up 28%? I think that this would be welcomed by most companies. Analysts can be tough can't they?
Shares fell to around $509 after hours, 10% off the all-time high of $558.58 it hit on Monday. Don't worry about Google though... the company is not even ten years old and the company's revenue is expected to surpass $15 billion this year.Labels: Google shares |
posted by Jody @ 8:46 PM   |
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