Google expands revenue but misses forecast
- 20 January, 2012 08:44
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.)
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.
Trust issue looms large for tech companies capitalizing on personal data
5 women who've made it in IT
Five trends affecting legal CIOs
CIO Roundtable: The changing face of security
Bitcoin malware count soars as cryptocurrency value climbs
Pathways Advanced ICT Leadership Development Program Course Outline and Big 6 2013
Developed by the CIO executive Council in conjunction with Rob Livingstone Advisory, Pathways Advanced is a 12-month CIO delivered, small group, mentor based professional leadership development program. Pathways Advanced brings together best practice, thought leadership and business insights for today’s most promising ICT professionals
Best Practices in Data Protection Monitoring
This whitepaper discusses best practice in data protection monitoring, with a focus on recoverability and visibility as significant drivers for success. Whether backing up a private cloud or several smaller environments, learn how a unified view is necessary for proactively reporting protection, compliance to auditors, and understanding overall data protection health, performance, and reliability.
‘A Little Extra Service’ Raises Customer Satisfaction and Lowers Costs
Companies are responding to the digital generation’s preference for online support, with new channels like Live Chat and Email Management. These mobile-friendly solutions give customers the right answers at the right time, when self-service just isn’t enough, and phone calls are undesirable. Read about these new touch points and the importance of a personalized web self-service.