Arab Today, arab today google slammed by disappointing earnings
Last Updated : GMT 15:50:22
Arab Today, arab today
Arab Today, arab today

Google slammed by disappointing earnings

Arab Today, arab today

Arab Today, arab today Google slammed by disappointing earnings

New York - AFP

Google on Thursday reported a 20 percent drop in third-quarter profits, in disappointing results which sent the Internet giant\'s stock price tumbling after an erroneous early release. Net profit was reported at $2.18 billion, compared to $2.73 billion in the same period a year ago. The results were made public in a regulatory filing hours ahead of their scheduled release, which Google called a \"draft\" released by a printer \"without authorization.\" The final version came a few hours later, with the same numbers but with a comment from chief executive Larry Page in place of a line on the draft which said, \"PENDING LARRY QUOTE.\" \"We had a strong quarter,\" Page said in the statement. \"Revenue was up 45 percent year-on-year, and, at just 14 years old, we cleared our first $14 billion revenue quarter. I am also really excited about the progress we\'re making creating a beautifully simple, intuitive Google experience across all devices.\" Revenue including sales from its newly acquired Motorola Mobility unit amounted to $14.1 billion. Google\'s own ad and other revenue rose 19 percent from a year ago to $11.53 billion. Google\'s earnings per share adjusted for special items amounted to $9.03, far below Wall Street expectations of $10.65 per share. Google stock slid 9.0 percent after the news to $687.30 before trade was halted, taking the company\'s market value back down below that of Microsoft, which it overtook earlier this month. Analysts were largely unfazed by the weak results. Independent tech analyst Jeff Kagan called the soft results \"just a hiccup in Google\'s climb\" and said the firm was still \"on the growth side of the wave.\" Anthony DiClemente at Barclays argued that \"the sell-off presents a buying opportunity as we think the Street was overly optimistic going into the quarter and did not fully discount the potential Motorola drag on the business.\" Google in May completed a $12.9 billion deal for Motorola Mobility, a key manufacturer of smartphones and other devices that put the Internet giant in head-to-head competition with Apple. Google acquired 17,000 patents with the purchase of Motorola Mobility and has been strengthening its patent portfolio in the fight for dominance in the booming smartphone and tablet market. Motorola Mobility was created in 2011 when US-based Motorola Inc. split the company into two separate entities: a mobile devices unit, and a government and public safety division known as Motorola Solutions. Google remains dominant in its core area of online advertising with a 74.5 percent share of the US search ad market, according to data from eMarketer. Google\'s ad revenue alone is expected to account for 41.3 percent of total US digital ad revenues in 2012, eMarketer projects.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today google slammed by disappointing earnings Arab Today, arab today google slammed by disappointing earnings

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Haifa Wahby bets on her new drama show

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 22:19 2017 Friday ,24 March

Reveals reasons of hepatitis in Algeria

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday