Google misses earnings expectations by batteryfast

1. PR Log - Global Press Release Distribution
Google misses earnings expectations by batteryfast
By battery
Dated: Apr 16, 2011
Google's first-quarter revenues announced this afternoon were slightly better than what Wall Street was
expecting, but earnings per share were lower than anticipated.
Google's first-quarter revenues announced this afternoon were slightly better than what Wall Street was
expecting, but earnings per share were lower than anticipated.
Analysts were expecting about 25 percent year-over-year revenue growth--about $6.32 billion. Google
ultimately reported revenues of $6.54 billion once traffic acquisition costs were removed.
"We had a great quarter with 27 percent year-over-year revenue growth," Chief Financial Officer Patrick
Pichette said in an investor release. "These results demonstrate the value of search and search ads to our
users and customers, as well as the extraordinary potential of areas like display and mobile. It's clear that
our past investments have been crucial to our success today--which is why we continue to invest for the
long term."
That figure that Pichette cited includes the money that Google splits with partner companies, though. When
you take that out, Google slightly missed Wall Street's understandably high expectations--earnings of $8.08
per share instead of the anticipated $8.10.
The real intrigue with Google's earnings report, though, is that it marks the first release of financial
information since co-founder Larry Page returned to the CEO post at the company, replacing Eric Schmidt.
On an investor call Thursday, Page made a brief appearance at the beginning to address.
"We're really still at the beginning from a user perspective. There's tremendous improvements we have in
our core product and our core business, and we're really excited about that," Page said. He thanked
outgoing executive Jonathan Rosenberg, whose departure was announced earlier this month, and said that
Schmidt, who remains chairman, has been "doing tremendous, tremendous things for the company" and that
his fellow co-founder Sergey Brin is "working very intensely on a few emerging products."
The last time Page was CEO, Google had not yet gone public.
Pichette led the conference call, saying that "our product innovation over the past 18 months has been
nothing short of extraordinary," citing the success of the Chrome browser, Android mobile operating
system, and new display advertising products. "We are building multimillion-dollar businesses and we are
confident that now is the time to invest."
Executives on the call reiterated that 2011 will be the biggest hiring year in the company's history, and that
full-time employees went from 24,400 full-time employees as of December 31, 2010 to 26,316 at the end of
March.
Google has $36.7 billion in cash and cash equivalents.
More information: http://
www.batteryfast.co.uk/battery-technology/ios-4-3-2-update-seems-to-have-improved-battery-life-reporting-
on-ipad-2/
Panasonic EY9021 EY9025 Cordless drill battery on sales
UK: http://www.batteryfast.co.uk/Power-Tools-Battery/Panasonic/EY9021.htm
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2. PR Log - Global Press Release Distribution
US: http://www.batteryfast.com/Power-Tools-Battery/Panasonic/EY9021.htm
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