Google Stocks Are Down
July 21, 2008
It seems that the “World’s Number One Brand”, and poised-to-dominate-the-web corporation, Google has lost some steam.
In a recent report, Bloomberg said that the Internet giant ”fell as much as 12 percent in late trading after reporting earnings that missed analysts’ estimates on a surge in spending on new projects and costs to defend YouTube in a copyright lawsuit.”
Although stocks are down to their lowest level in three months, net income was up. Now at $1.25 billion from around $925 billion last year.
CEO Eric Schmidt said that Google is “a more challenging economic environment.” and that “Traffic and revenue have held up well despite uncertain economic conditions”
Via Bloomberg
[...] - bookmarked by 4 members originally found by stormflower on 2008-10-23 Google Stocks Are Down http://geekzkrieg.com/?p=68 - bookmarked by 5 members originally found by hamjak on 2008-10-17 [...]