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Google Posts $2.18 Billion Profit. Stock Tanks

Yup, you read that right. Despite that fact that Google made $2.18 billion with revenue of $11.3 billion (not including losses from the buying of Motorola Mobility. That's a revenue increase of almost $3.8 billion!

So why the 8% drop in stock value? Well the analysts (you know the people who always get their predictions right) had predicted revenue of $11.86 billion. So that didn't help.

But to make matters worse its only $6.53 per share instead of $8.33 per share in profit.

So the company made fist fulls of money has invested hugely and even accounting for a weak advertising market is doing great, but since the per-share profit is down people are jumping ship.

This is why we shouldn't use the markets to gauge anything.
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Brittany Constable's profile photoTim Glaser's profile photoEmily Evans's profile photo
3 comments
 
I kind of want to take advantage of the dip to buy stock in Google, but I think it's still a little more than I can spare.
 
i can afford to buy like 6 shares of google at this reduced price!

psh.  Google's stock price is for institutional investments.  this was just a good reason to take profit.
 
It's still absurd that it's $695.42 a share.
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