Oct
18
Google Turns in Soft Quarter as Search Shifts to Mobile
Posted in: Uncategorized
Google’s profits fell 20% last quarter, but CEO Larry Page led with the good news on a hectic day for the company: mobile is now an $8 billion run-rate business and the company cleared a big revenue milestone.
“At just 14 years old, we cleared our first $14 billion revenue quarter,” Mr. Page said. “Not bad for a teenager.”
The big numbers masked a less-than-dazzling quarter, however, and Google missed both revenue and profit estimates and released its earnings hours early in a gaffe it blamed on the printer. As Mr. Page noted, “I’m sorry for the scramble today.”
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