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.
Yahoo Mail still down for some users, after an attempted fix
Queensland government to provide 200 services online by 2015
CIOs need to get their house in order, CFO panel says
Is Data Complexity Blinding Your IT Decision-Making?
Why IT projects really fail
Advancing Customer Intelligence Capabilities in Asia-Pacific
Many Asia-Pacific organisations lack or are hindered in their ability to integrate, analyse, and extract insights from multiple internal and external databases. When it comes to big data, Asia-Pacific organisations lag behind the U.S. and Europe in data warehouse, business intelligence, and analytics investments. But don’t expect that to last. Download to find out the big shifts in marketing strategies to improve behavioural targeting and personalisation.
Virtualisation and Cloud Computing: Optimised Power, Cooling and Management Maximises Benefits
IT virtualisation, the engine behind cloud computing, can have significant consequences on the data centre physical infrastructure. The particular effects of virtualisation are discussed and possible solutions or methods for dealing with them are offered. Download to learn more.
Unleashing the Power of Information
If business-relevant information is not well managed, secured and analysed, it can become an underutilized asset or—worst case—a legal and competitive liability. Nearly all of the IT and business executives who responded to a recent survey recognise this risk, and say they understand the importance of having an enterprise information management (EIM) strategy. Find out more on how to reduce costs, improve competitiveness and avoid risk by making information management an enterprisewide strategic priority.