Google Surprises Wall Street, but Not in a Good Way
Shares fall 9 percent after earnings
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Expectations were high for Google's earnings call Thursday, but instead of blowing analysts away with dizzying gains, the Internet giant dropped a rare disappointment: lower than anticipated earnings and revenue.
The company reported earnings per share of $9.50 and net revenue of $8.13 billion, but according to Yahoo Finance, analysts polled were expecting, on average, earnings per share of $10.50 and net revenues of $8.41 billion. The lower returns knocked Google’s share price down 9 percent in after-hours trading.