Google Inc Remains Under Pressure Despite Higher Earnings

Google Inc (NASDAQ:GOOG) announced its financial results for the fourth quarter and reported the increase of 6 percent in its net profit. The company reported the net profit of $2.71 billion or earnings of $8.22 per share for the quarter ended December 31st, 2011 as compared to net income of $2.54 billion or earnings or $7.81 per share for the same period in prior year.

Despite better earnings Google’s shares haven’t much moved in an upward trend as Wall Street was expecting much more. Analysts were expecting the earnings of $10.51 per share with revenue of $8.43 billion.

High hopes with Google were also associated after the company earlier announced its non-GAAP quarterly results according to which the company was hoping for earnings of $9.50 per share which revenue of $3.13 billion.

Company’s shares fell 8.38 percent to close at $585.99 in today’s session. The stock was also traded with strong volume figure of 10.58 million shares as compared to its average volume figure of 2.82 million shares per day.

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Alan Smalling

About Alan Smalling

Alan is the latest addition to our news and development team. He has worked with Pete previously on other financial websites. When we can keep him at low altitude, his contributions will mainly be focused on company news and new product launches.

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