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Google Sees 82% Profit Jump, Is It Enough?
By Andy Beal
Expert Author
Article Date: 2006-01-31
Reuters reports Google's net profit rose 82% in fourth quarter to $372.2 million.
Net income for the fourth quarter rose to $372.2 million, or $1.22 per diluted share, from the year earlier quarter's $204.1 million, or 71 cents a share. Gross revenue grew 86 percent to $1.92 billion
The consensus Wall Street prediction for net profit was $1.51 per share, according to Reuters Estimates.
We'll update with Wall Street's reaction.
Update: After Hours market shows Google down 13%+ to $373. Ouch.
Update 2: I always find great analysis at TheStreet.com. Here's their take on why GOOG is tanking.
...earnings were just $1.54 a share, missing the $1.76-a-share Wall Street consensus. An unexpectedly high tax rate appeared to be the chief culprit...Bears pointed to a declining revenue contribution from overseas sources...sales from outside the U.S. made up 38% of the top line in the fourth quarter, compared with 39% in the third.
About the Author:
Andy Beal is President & CEO of Fortune Interactive a full-service interactive marketing agency specializing in search marketing and blog marketing. Considered one of the world's most respected interactive and search engine marketing experts, Andy has worked with many Fortune 1000 companies such as Motorola, CitiFinancial, Lowes, Alaska Air, DeWALT, NBC and Experian. You can read his internet marketing blog at Marketing Pilgrim and reach him at andy.beal@gmail.com.
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