Friday, July 19, 2024

Google’s Page Stung as Ad-Price Decline Means Results Miss

Datamation content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

Bloomberg BusinessWeek: Google’s quarterly results failed to meet analysts’ expectations, leading to a swift decline in the company’s stock price. Google reported revenue of $8.13 billion, which fell short of the expected $8.41 billion. Similarly, the $9.50 profit per share also did not meet expectations of $10.50 per share. “Google looks more mortal this quarter,” said Colin Gillis, analyst at BGC Partners LP in New York. “A lot of what Larry Page is doing is a lot more tolerable to investors when the business is firing on all cylinders.”

Observers say much of the blame for the disappointing results should fall to ad prices, which declined 8 percent during the quarter. Ad sales in Europe were particularly weak.

Subscribe to Data Insider

Learn the latest news and best practices about data science, big data analytics, artificial intelligence, data security, and more.

Similar articles

Get the Free Newsletter!

Subscribe to Data Insider for top news, trends & analysis

Latest Articles