Google Stock Slammed In After-Hours Trading
Google stock has plummeted on what the market is calling a bad earnings report, falling over $46 in after-hours trading. GOOG fell from a closing price of $548.59 to around $502.47, an 8% drop that wiped out $13 billion in shareholder value.
Reuters called the earnings report “disappointing”.
Jeffrey Lindsay, analyst at Sanford C. Bernstein, says Google is blowing it on expenses, spending too damn much money. “These guys have been spending like drunken sailors.”
Google CEO Eric Schmidt, displaying an incredible amount of arrogance or insularity (pick one), acted in a statement like Google didn’t slip at all. While yes, the market is over-reacting, it is still reacting to a down quarter, and to not notice that it was a down quarter is just stupid.
Google did indeed come up with a miss today, but do we consider the stock to be “slammed” after hours?
For more analysis click here:
http://sneakybusiness.typepad.com/sneaky/2007/07/google-misses-s.html
Comment by DayNovo | July 19, 2007
[…] Hot on the heels of Google AdSense checks reportedly bouncing, and as Google heads to Washington to defend it’s recent Doubleclick acquisition (which as we all know, is part of their attempt to buy the whole Internet), it now looks like Google has managed to lose $13 Billion… overnight. (Thanks to Nathan Weinberg of InsideGoogle for reporting on this.) “Reuters called the earnings report “disappointing”.” […]
Pingback by WBW (Worldwide Blog Wrestling) Presents… » Google Loses $13 Billion Overnight - Bad Check Fees Adding Up? | July 19, 2007
It is now a $39 drop, 7.12%, and well over ten billion dollars, just gone. I’d call that slammed. A $39 drop is huge.
Comment by Nathan Weinberg | July 19, 2007
Nathan, it was not really a down quarter in terms of how Google is doing. The numbers are impressive in that view. Expectations are set as if google will be perfect (expectations were not met). But judging the company, it was not a down quarter. Revenues were above expectations, at a 58% increase.
Comment by or | July 19, 2007
Expectations were set at only one thing, that Google was going to eventually be worth 170 billion dollars. If Google growth rate slows to the point where that will never happen, then the stock price must go down. If the quarter does not meet expectations, and your stock price is based on expectations, then it’s a bad quarter for the stock.
Oh, and the real problem is that Google beat revenue projections, but not profit projections. Spending really is out of control.
Comment by Nathan Weinberg | July 20, 2007
Google shares will go up next week!
So everything gonna be compensated ..
Comment by Ala' Alsallal | July 20, 2007
cool……..keep it up !
Comment by getonebyone | July 20, 2007
[…] 2006 (29) Google Loses $13 Billion 2007-07-20 11:53 | Uncategorized | Permalink | Google stock has plummeted on what the market is calling a bad earnings report, fallingover $46 in after-hours trading. GOOG fell from a closing price of $548.59 to around $502.47, an 8% drop that wiped out $13 billion in shareholder value.read more | digg story […]
Pingback by dblog-Tech News And Other Humorous And Frightening Things From Around The Web | July 20, 2007
Never put all your eggs in one basket. The same rule for blogs goes for stocks as well. Hopefully nobody suffered too much.
One Man. One Year. $100,000 online. Because Google Ads work even if Google stock doesn’t.
http://www.oneyeargoal.com
Comment by OneYearGoal.com - Make Money Online | July 20, 2007
Google is great. They may be spending a lot of money, but they are on their way to controlling the world. The services that they offer is amazing, from their takeover of KeyHole to Google Maps, even the new one Grand Central will be a hit. They take whats out there, and make it better, and in the future, Google will most likely find a way to compete or surpass Microsoft, just give it some time. If I could afford their stock, I wouldnt hesistate one second.
Comment by Tony S | July 20, 2007
They will definetely make up this.
Comment by Buğra | July 20, 2007
[…] Google is trying to take over the world buying everything remotely decent and investing in anything remotely worthy. It seems like nothing will ever stop or beat Google anymore. Looks like last night Google’s heads spent up - Routers reports that Google lost 13$ billions, in one short night. Ain’t summer nights HOT? […]
Pingback by TopTut.com - Top Tutorials Webmasters and Designers tips, tricks, articles and free downloads | July 20, 2007
Seriously people if you can afford it grab as many as you can, it will be up again in a few years tenfold that price.
Comment by Dave | July 20, 2007
[…] Jul 21st, 2007 by admin Google stock has plummeted on what the market is calling a bad earnings report, falling over $46 in after-hours trading. GOOG fell from a closing price of $548.59 to around $502.47, an 8% drop that wiped out $13 billion in shareholder value.read more | digg story […]
Pingback by Google Loses Billion | BlackySky World | July 20, 2007
[…] read more | digg story Explore posts in the same categories: Uncategorized […]
Pingback by Google Loses $13 Billion « The Computer User Videophiler Blog | July 20, 2007
[…] Google Loses $13 Billion 1pssts Erik shared this 0 seconds ago http://google.blognewschannel.com/archives/2007/07/19/goo… Google stock has plummeted on what the market is calling a bad earnings report, falling over $46 in after-hours trading. GOOG fell from a closing price of $548.59 to around $502.47, an 8% drop that wiped out $13 billion in shareholder value. http://finance.google.com/finance?q=GOOG http://uk.reuters.com/article/businessNews/idUKN1939191020070719 http://www.forbes.com/technology/2007/07/19/google-earnings-schmidt-tech-cx_rr_0719google1.html PSST! Pass it on… Did you like this psst? […]
Pingback by PSST! it / Google Loses $13 Billion | July 20, 2007
Google is not focus on its strategies. The ideas for doing business are not unique. They should get some think different to his competitors.
Comment by Blog Opinion | July 21, 2007
[…] Jul 21 Google Loses $13 Billion By diggblogAdd commentsTech Google stock has plummeted on what the market is calling a badearnings report, falling over $46 in after-hours trading. GOOG fell from a closing price of $548.59 to around $502.47, an 8% drop that wiped out $13 billion in shareholder value.read more | digg story This entry was posted on Saturday, July 21st, 2007 at 1:05 am and is filed under Tech. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. […]
Pingback by Two Pluses » Blog Archive » Google Loses $13 Billion | July 21, 2007
[…] read more | digg story […]
Pingback by Google Loses $13 Billion(?!) | July 21, 2007
Buy Google now while it’s down, because it’ll only go up afterwards…
Comment by Jtrim | July 21, 2007
[…] По материалам Inside Google […]
Pingback by Компании и организации. Размышления онлайн. » Blog Archive » Компания Google потеряла 13 миллиардов | July 21, 2007
[…] Wow! Google’s stock takes a hit - http://google.blognewschannel.com/archives/2007/07/19/google-stock-slammed-in-after-hours-trading/ […]
Pingback by demosthenes2010.com » Blog Archive » Bit off more than my mind could chew, Shower or suicide, what do I do? | July 21, 2007
This is why I think the stock market is dumb. They still make a profit, but they miss a target (sometimes set by an investment firm and not the company - I don’t know exactly in this case) and the stock goes down. Even though they are still making money and are still the biggest thing in search!
Comment by ERM | July 23, 2007
[…] read more | digg story […]
Pingback by Tech Nology Blog » Blog Archive » Google Loses $13 Billion | July 24, 2007