Google misses on earnings, stock drops

Preeti Upadhyaya, Silicon Valley Business Journal

Google Inc. posted net income of $3.3 billion for the second quarter, up 17 percent from a year ago thanks to growth in the company's advertising business. But the Mountain View company didn't perform as well as analysts had anticipated, and the stock dropped 5 percent in after-hours trading.

Here's how the numbers break down:

EPS

Google pulled in earnings per share of $9.54, compared to $8.42 a year earlier.

Revenue

Revenue came in at $14.1 billion, compared to $11.8 billion a year prior.

Missed estimate

Analysts polled by Yahoo Finance and Thompson Reuters were expecting earnings of $10.78 a share on revenue of $14.4 billion.

Tasty bits

Total ad revenue jumped 15 percent to $13.1 billion. Read more about Google's Q2 results here and here.

Source: http://feeds.bizjournals.com/~r/bizj_phoenix/~3/J8s4mvedPdg/google-misses-on-earnings-stock-drops.html

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