“Shares of Google Inc rose 3 percent in premarket trade on Friday after the company posted a healthy gain at its online advertising business, assuring the Street that it was performing well despite a slow economy,” Sayantani Ghosh reports for Reuters.
“Google’s advertising rates have been pressured as consumers increasingly use smartphones to access mobile versions of the Web, but the concern was alleviated as overall clicks on Google’s search ads jumped 42 percent in the second quarter,” Ghosh reports. “The success of Google’s web browser, Chrome, will offset rising traffic acquisition costs (TAC), Barclays Capital analyst Anthony DiClemente said in a client note. TAC is the money paid by internet search companies to online firms that direct traffic to their websites.”
Ghosh reports, “Chrome users nearly doubled by the second quarter to 310 million. The world’s No.1 search engine, however, evaded questions about its plans for Motorola Mobility, which it recently bought for $12.5 billion, saying Google was yet to complete its homework on the various businesses. Motorola reported an operating loss of $233 million in the second quarter on revenue of $1.25 billion.”
Read more in the full article here.
Since when do we give a fuck about them?
$12.5 billion paid for Motorola and they drop a deuce on Google’s earnings spreadsheet. LMAO!
Google spent $12.5B on Motorola Mobility and has had months to prepare, but they have not yet completed their “homework” on the various Motorola Mobility businesses…
That is ridiculous.
That is why the way to destroy Google is to take away their ad revenue streams. First step, map ads. Step 2, ….
Internet ad revenue via clicks is the next “great bubble” to burst. Give it a year or two.
Meanwhile AAPL who was 30pts higher than GOOG two days ago is falling fast today while GOOG is surgeing past AAPL at this moment. At the end of today we will likely see a 30 or 40 point swing. And when Apple shows lower iPhones sales on 24th we might quit dancing on Google’s grave. How can you not be impressed with their report? Give Google some credit, they are competing with Apple quite well. Until iPhone 5 there is not much to cheer about.
Gillis of BGC is the only one brave enough to say out loud that the emperor has no clothes. Google missed on the bottom line, had tepid top line growth, continues to experience declines in cost per click, and issued a weak forecast, and its CEO has a stubborn–and undisclosed–ailment, yet the stock ROSE 3 percent! WTF…
Smoke and Mirrors Baby!