Google's Profit and Revenue Rise, but Analysts Wanted More
Posted in: Internet Use/New Technologies at 16/04/2010 18:08
Google may be fighting a multifront war against Apple, Microsoft, federal antitrust regulators and the government of China, but its online advertising business continues to hum along nicely.
The company topped published forecasts on Thursday, reporting that its net income in the first quarter jumped more than 37 percent from the recession-mired quarter a year ago. Sales grew 23 percent from the period a year earlier.
Google's 37% profit increase not enough for investors
Google Inc.'s first-quarter profit jumped 37% and topped analysts' estimates, but it still wasn't enough for Wall Street.
Shares of the Internet giant slumped nearly $29, or about 5%, in after-hours trading, after having climbed to $595.30 before the earnings were announced Thursday.