Tuesday, May 10, 2011

Google Profit Misses Forecasts

As per nytimes Revenue Rises at Google but Profit Misses Forecasts, and Analysts Point to Spending.

“Maybe he doesn’t want to do it every quarter, but there was nothing meaningful,” said Colin Gillis, an analyst with BGC Financial.
The company reported that first-quarter revenue increased 27 percent. While profits were also up, they fell short of analysts’ predictions. “We’ve had a tremendous quarter,” Mr. Page said before leaving. He said that “it shows the strength of our business and the continuing growth in the tech industry.”

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