On Monday Google reported their first quarter earnings and on Tuesday the stock price dropped the most in seven years.
Google reported revenue of $36.3 billion, up 17% over the previous year. Google’s ad revenue consisted of 85% of that revenue or $30.7 billion which was up from $26.6 billion. The company said they remain focused and excited by significant growth opportunities across their other business. However, Wall Street didn’t want to hear that. They wanted to know why the ad revenue growth decelerated from 24% a year ago to 15%. I think what really pissed Wall Street off was Google
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