quarter 2011 results, and man,
Wall Street is not pleased. The
company reported $2.71 billion
in profit (up from $2.54 a year
earlier), net revenue of $8.13
billion and earnings of $9.50 per
share, excluding some one-time
charges. That's less than the
$10.49 per share and $8.40
billion financial analysts were
expecting and, as Reuters notes,
it's the first time in nine quarters
that Google hasn't beaten
revenue estimates. Of course, the
company spun its results the
best it could, emphasizing that
its gross revenue jumped 25
percent to $10.58 billion, making
this the first time the company's
raw sales exceeded $10 billion in
any given quarter. Of course, that
figure doesn't reflect the myriad
costs associated with boosting
web traffic, and investors are
more concerned with that $8.13
billion in net revenue. Needless
to say, Wall Street is none too
impressed -- as of this writing,
the company's stock was down
almost nine percent in after-
hours trading.
That's not to say Google is
struggling. The outfit actually
logged a sharp increase in clicks
on its search ads, but said the
fee it receives from those ads
was down eight percent from
both the previous quarter as well
as the fourth quarter of 2010.
Plus, by all metrics, Android is still
on quite the tear. In a
conference call with investors,
the company said there are now
250 million Android devices, up
50 million from the last quarter.
Some more tidbits: 7000,000
devices are being activated per
day and more than 11 billion
items have been downloaded
from Android Market (it hit the
10-billion mark last month).
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