Investors met Google’s earnings for the first quarter with a near universal sigh of disappointment. The next sound was the dumping of Google’s shares, which fell by some 7 percent in the aftermath. The company reported an adjusted profit of $8.08 a share — which missed analyst expectations of $8.11 a share. Digging deeper into the numbers, a culprit was found: unusually heavy operating expenses or spending, driven in no small part by the company’s increased headcount. Google hired close to 2,000 new employees in Q1.
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Google Investors' Motto: Don't Be Youthful
Posted by: Erika Morphy April 16, 2011 05:00 AMInvestors met Google’s earnings for the first quarter with a near universal sigh of disappointment. The next sound was the dumping of Google’s shares, which fell by some 7 percent in the aftermath. The company reported an adjusted profit of $8.08 a share — which missed analyst expectations of $8.11 a share. Digging deeper into the numbers, a culprit was found: unusually heavy operating expenses or spending, driven in no small part by the company’s increased headcount. Google hired close to 2,000 new employees in Q1.