Google misses earnings for first time ever!?

Whose estimates are we talking about?

Google’s second quarter earnings fell short of Wall Street estimates, and by Friday’s end the stock had fallen almost 10%. The reaction…

  • The New York Times says Google’s miss was deliberate, and they’ve now “gone too far” (i.e. someone’s pointing fingers – no surprise there)
  • Om Malik says Silicon Valley has reason to worry (he probably has a good point nonetheless)
  • and

  • Henry Blodget outs another nutbag fund manager who’s touting a $1,000 price target (while buying all the way down at the expense of his investors)

Meanwhile, some are calling it a “rare miss” and others say it wasn’t a miss at all. I wonder.

All the fiddling with “charges” aside, according to the consensus estimates retrieved from Bloomberg some months ago, Google hasn’t hit “the numbers” in a while:

google-consensus-estimates

What’s the big deal?

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