Google’s Share Slide: 6% Dip Equals $22 Billion Loss
Wall Street had its own “coffee break” on Wednesday when Google’s stock juice went down by roughly 6%, wiping out about $22 billion of market value. Not a bad day for the Big G if you’re the kind who loves a dramatic market story.
Quarterly Numbers: A Mixed Bag
So, how did the company’s earnings stack up? Profit actually climbed 3% to $3.45 billion (which translates to £2.05 billion). Good news at first glance, but investors felt the sting when revenue lagged behind the rosy forecasts—$15.4 billion was shy of analyst expectations.
Click‑Cost Conundrum
- Cost‑per‑Click (CPC) revenue fell 9%.
- Reason: More folks are scrolling through Google on their phones where CPC rates are slashed.
During the dawn of the mobile era, CPC payments took a tumble, convincing Wall Street that Google’s ad dominance is not iron‑clad.
Motorola Sale Snafu
Remember the $3 billion loss from the January sale to Lenovo? Google bought the smartphone maker for $12.5 billion back in 2015. The financial blow has been a white‑knuckle reminder that the company’s strategic bets can go sideways.
Larry Page’s Sunshine‑Style Bulletin
CEO Larry Page tried to keep the mood upbeat with a flippantly optimistic statement:
“We completed another great quarter. Google’s revenue was $15.4 billion, up 19% year on year.”
He also brushed away concerns over smartphone competitiveness by highlighting mobile product upgrades and “exciting progress on emerging businesses.”
Privacy PPPM
- Yesterday, Google admitted in its terms that it automatically reads all Gmail messages.
- Confidence in system‑wide snooping has become the new “normal” in our society.
Fear of a public backlash over privacy may have nudged investor sentiment, adding to the compounded heat surrounding Google’s corners.
What to Take Away?
Will Google’s knack for tapping the privacy market help silk up future profits? Will the public even care? The answer remains a mystery for now—time is the ultimate judge.
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