Google profits up, stock price down
Original post made by googleWatch, News on Mountain View's largest employer, on Apr 16, 2010
Analysts [Web Link reportedly predicted better performance] from the search engine giant partly because Intel, a barometer for the tech industry, predicts record sales this year.
The increase in profits came in part from an increase in online advertising revenue with paid clicks increasing by 5 percent compared to last quarter and 15 percent over a year ago. However, it's share of the search engine market decreased from 65.5 percent to 65.1 percent this quarter in the face of competition from Yahoo and Microsoft.
Google's stock price has gone from $4.49 a share a year ago to $6.06 this year.
Analysts are recommending against buying Google stock reportedly because, with profits unexpectedly low, it appears to have veered too far from recession belt tightening as it adds staff and makes acquisitions this year.