Google profit rise fails to impress; shares slip

Discussion in 'Apple, Inc and Tech Industry' started by *LTD*, Apr 16, 2010.

  1. *LTD* macrumors G4

    *LTD*

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    #1
    http://www.reuters.com/article/idCNN1518631720100416?rpc=44

    Google profit rise fails to impress; shares slip
    Friday, April 16, 2010 - 10:25 AM EDT

    "Google Inc. posted a 23 percent jump in quarterly revenue on a rebound in Web advertising, but its stock fell 5 percent as the company disappointed some investors accustomed to blowout results," Alexei Oreskovic reports for Reuters.

    "Investors were also caught off guard by the company's announcement that Chief Executive Eric Schmidt would no longer take part in quarterly earnings conference calls, as it aims to 'streamline' the process," Oreskovic reports. "Google said the decision should not be interpreted as having any other meaning about Schmidt's role at the company."

    "The stock, which has risen about 5 percent since Monday, gave up those gains to trade at $566.20 after hours on Thursday," Oreskovic reports. "The stock had gained 1.1 percent during the regular Nasdaq session."

    "Google provided few details about its business selling ads that appear on mobile phones, but said its Android smartphone software was available on 34 different devices on the market and that the number of software apps designed to run on Android phones had grown to 38,000," Oreskovic reports. "Executives declined to say how many of the Nexus One smartphones -- which Google sells directly to consumers on its website -- have been sold since being introduced in January, but said the company was pleased with the phone's 'uptake.'"

    Oreskovic reports, "Google faces an increasing threat from iPhone-maker Apple Inc. in the mobile advertising business."
     
  2. maflynn Moderator

    maflynn

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    #2
    Since when is a 23% increase in quarterly revenue is considered poor :confused:

    Another article I read about google is that android is now operating in the black. That is its now a profitable business unit.

    I'd reword the last quote
    "Apple faces an increasing threat from Android maker Google." ;)
     
  3. roadbloc macrumors G3

    roadbloc

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  4. ChazUK macrumors 603

    ChazUK

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    #4
    http://www.google.com/hostednews/ap/article/ALeqM5hbQDFoCXBIHuqvP7fpi7B2CA6ahAD9F3Q8N00

    This article paints a different (non Apple slanted) picture.

    Is a thriving Google considered a bad thing?
     
  5. maflynn Moderator

    maflynn

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    #5
  6. *LTD* thread starter macrumors G4

    *LTD*

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    #6
    It says the same thing as the reuters link.
     
  7. ChazUK macrumors 603

    ChazUK

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    #7
    The only mention of Apple from the AP link is this:
    The investors are more concerned with Google moneyhatting than Apple from what I can see, which is strange considering your quote doesn't mention google's spending being the big issue.

    By ending with "Google faces an increasing threat from iPhone-maker Apple Inc. in the mobile advertising business." I thought you were inferring Apple was the big issue.
     

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