Google Inc. (GOOG) Stock Falls Sharply on Earnings
Google co-founders Sergey Brin and Larry Page have always told Wall Street that positioning the Internet search leader to realize long-term ambitions is more important than hitting the short-term financial targets of investors.
Just in case anyone forgot, the company punctuated the point with its second-quarter results.
Propelled by the online advertising boom, Google Inc. reported late Thursday that revenue surged to $3.87 billion, up 58 percent from the same time last year -- a gain that was slightly above analyst estimates.
But Google's profit margins narrowed as management ramped up spending to hire additional employees, develop new products, open more data centers and buy more content for its Web sites. A change in how the Mountain View-based company accounts for employee bonuses also weighed on the results.
Just in case anyone forgot, the company punctuated the point with its second-quarter results.
Propelled by the online advertising boom, Google Inc. reported late Thursday that revenue surged to $3.87 billion, up 58 percent from the same time last year -- a gain that was slightly above analyst estimates.
But Google's profit margins narrowed as management ramped up spending to hire additional employees, develop new products, open more data centers and buy more content for its Web sites. A change in how the Mountain View-based company accounts for employee bonuses also weighed on the results.
Labels: GOOG, Google Inc.
posted by Stock Administrator @ 1:38 PM
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