Street stays bullish on Google despite miss |
| MarketWatch - Jan 20, 2012 |
Google Inc. saw its stock price slide Friday after company earnings for the fourth quarter missed Wall Street’s consensus target by more than $1 a share.
However, most of the analysts covering Google /quotes/zigman/93888/quotes/nls/goog GOOG -8.30% maintained bullish views on the Internet firm, citing their belief that its core search advertising business remains strong and chalking up the miss to a variety of other factors that included a hit to the top line from foreign-exchange translations.
Google’s shares traded down 8% at midday. The stock had previously enjoyed a significant run, adding 25% over the previous three months prior to the results issued late Thursday but coming off a multi-year high above the $670 mark earlier this month.
Google reported a 6% gain in net income for the December quarter, though earnings of $9.50 a share on an adjusted basis came in well shy of Wall Street’s consensus forecast of $10.51 a share.
Read Full Article from MarketWatch
- Posted: 2012-01-20 12:50:09
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
