Google released an official report about three hours after the
trigger-finger one, filling in the blank quote with a bland statement
from CEO Larry Page. Its financial information was unchanged.
In their forecasts, Wall Street analysts exclude the advertising
revenue that Google shares with partners, a figure known as traffic
acquisition costs. Without those sales, the company reported revenue of
$11.3 billion, which missed the $11.8 billion median forecast from
analysts polled by Thomson Reuters.
Earnings per share came in at $9.03, sharply missing the $10.65 that analysts expected.
Among the banner bad news: The amount that Google's advertising
partners pay per click continued to drop dramatically, falling 15% over
the year.
Page still termed the quarter "strong" in Google's press release, noting that sales rose 45% over the year.
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DeleteThis is disturbing news, though I don't really think Google will be devestated by this turn of events. Google is a massive business, and eight percent is not going to cripple the corporation.
ReplyDeleteGood job erik, i agree with garrett, this probably didnt hurt google too bad. but it very well could continue to drop and potentially hurt the company
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