Google Earnings: Here’s Why Investors Don’t Like These Results
Google Inc. (NASDAQ:GOOG) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 4.69%.
Google Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 5.53% to $9.56 in the quarter versus EPS of $10.12 in the year-earlier quarter.
Revenue: Rose 15.52% to $14.11 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Google Inc. reported adjusted EPS income of $9.56 per share. By that measure, the company missed the mean analyst estimate of $10.78. It missed the average revenue estimate of $14.42 billion.
Quoting Management: In a comment, Google CEO Larry Page said something similar to what he’s said in the past: “The shift from one screen to multiple screens and mobility creates tremendous opportunity for Google. With more devices, more information, and more activity online than ever, the potential to improve people’s lives even more is immense.”