Page Tanks Google Stock
New CEO's refusal to play nice with Street adds to unease about rise in expenses
Google CEO Larry Page’s relationship with Wall Street is getting off to a rough start, and the company's stock is taking a hit as a result.
On Thursday, Google announced its first quarterly earnings: Revenues rose by 27 percent, but earnings per share came in at $8.08, which were slightly lower than the expected $8.11. The most surprising number was the 34 percent increase in expenses which came as a result of last year’s across-the-board salary hike and the large retention packages given to employees to keep them from leaving to work for rivals like Facebook and Twitter.
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