Google's Quarter Beats Forecasts, but Shares Slide
EARNINGS, TECH, TECHNOLOGY, INTERNET, GOOGLE, MEDIA, GOOG, FOURTH-QUARTER, 4Q, Q4, CHINA,
CNBC.com | 21 Jan 2010 | 04:13 PM ET
Google reported both earnings and revenue that beat what Wall Street was expecting, but the results weren't enough to please investors, who pushed the stock lower in late trading.
The online advertising and Internet search giant reported a profit of $6.79 a share in the fourth quarter excluding one-time items, against earnings of $5.10 a share in the same period last year.
Sales for the most recent period rose to $4.95 billion, up from $4.221 billion last year.
Analysts who follow Google saw the company turning in a profit of $6.48 a share, according to a consensus estimate from Thomson Reuters. Sales were seen at $4.919 billion.
In late trading Thursday, shares of Google were down more than 5 percent. Get after-hour quotes for Google.
The stock finished the regular Nasdaq session less than 1 percent higher at $582.98. |
