Critical.
Authoritative.
Strategic.
Subscribe to CIO Magazine »

Google expands revenue but misses forecast

Google's revenue was up 25 percent to $10.58 billion and Google+ now has 90 million users, the company said

Google's fourth-quarter revenue climbed 25 percent from a year earlier but was less than analysts had expected, pulling its stock price down 9 percent in after-hours trading Thursday.

Google's revenue for the three months to Dec. 31 came in at US$10.58 billion, up from $8.44 billion a year earlier, the company announced Thursday. Subtracting commissions and fees paid to partners, revenue was $8.13 billion, below the consensus analyst forecast of $8.41 billion, according to Thomson Reuters.

The company's stock price had dipped more than 9 percent at the time of this report, to $580.91, as investors reacted to the news. Earlier in the day, its stock ended regular trading at $639.57, up 1 percent.

Google's net income for the quarter was $2.71 billion, the company said, up from $2.54 billion in the fourth quarter last year. In a statement, CEO Larry Page was upbeat. "Google had a really strong quarter ending a great year," he said.

It's Google+ social networking service now has 90 million users, he said, up from about 40 million when Google reported its third-quarter results a few months ago.

Google executives will say more about the results in a conference call Thursday.

(More to follow.)

More about GoogleReutersThomson

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Comments

Comments are now closed

Computerworld
ARN
Techworld
CMO