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Google profits up, stock price down

Original post made by googleWatch on Apr 16, 2010

Google's revenue rose 37 percent to $1.96 billion this quarter compared to a year ago, but that wasn't good enough for Wall Street, where it's stock price fell 4.8 percent yesterday.

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.

Comments

Posted by Oops, a resident of Old Mountain View
on Apr 20, 2010 at 4:27 pm

"Google's stock price has gone from $4.49 a share a year ago to $6.06 this year."

Uh . . . Never mind that $4.49 to $6.06 is an increase in price, not a drop. Google's stock closed at $555.04 today (4/20/10).