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spunkmaster · 01-31-2006, 03:22 PM

Google profit misses Street target

25 minutes ago

Web search and Internet stock phenomenon Google Inc. (Nasdaq:GOOG - news) on Tuesday posted a profit that missed Wall Street targets due largely to a higher than expected tax rate, sending its shares down as much as 19 percent in after hours trade.

Net income for the fourth quarter rose to $372.2 million, or $1.22 per diluted share, from the year earlier quarter's $204.1 million, or 71 cents a share. Gross revenue grew 86 percent to $1.92 billion as advertising revenues soared.

The consensus Wall Street prediction for net profit was $1.51 per share, according to Reuters Estimates.

Shares of Google later recovered slightly to $370, a loss of 15 percent, in volatile trading.

01-31-2006, 03:22 PM
spunkmaster Confirmed User Join Date: Jan 2004 Posts: 2,052	Google profit misses Street target [down almost 70 points in after-hours trading] Google profit misses Street target 25 minutes ago Web search and Internet stock phenomenon Google Inc. (Nasdaq:GOOG - news) on Tuesday posted a profit that missed Wall Street targets due largely to a higher than expected tax rate, sending its shares down as much as 19 percent in after hours trade. Net income for the fourth quarter rose to $372.2 million, or $1.22 per diluted share, from the year earlier quarter's $204.1 million, or 71 cents a share. Gross revenue grew 86 percent to $1.92 billion as advertising revenues soared. The consensus Wall Street prediction for net profit was $1.51 per share, according to Reuters Estimates. Shares of Google later recovered slightly to $370, a loss of 15 percent, in volatile trading. __________________