Google Shares Fall After Missing Profit Target

Friday Apr 15th 2011 by Datamation.com Staff
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Google reports earnings of $8.08 a share, missing the $8.11 expectations of analysts.

MarketWatch: On Thursday, Google announced profits of $2.3 billion, or $7.04 a share, for the quarter. That's an increase from $1.96 billion, or $6.06 a share, during the same quarter a year ago. Not including one-time expenses, Google earned $8.08 a share, which fell short of analyst expectations of $8.11 per share. As a result, the stock dropped nearly 7 percent.

Since last year, Google's operating expenses have grown from $1.84 billion to $2.84 billion, with much of the increase due to the hiring of 2,000 new employees.

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