Market Wrap Daily

Posted by Market Wrap Daily | Posted in: Earnings, Recent, Stock News

Google (NASDAQ: GOOG) shares fall on fourth quarter earnings

Google (NASDAQ: GOOG) announced fourth-quarter earnings excluding items of $9.50 per share, up from $8.75 a share in the year-earlier period.

Net income rose to $2.71 billion from $2.54 billion.

Net revenue, which excludes fees shared with partner web sites, was $8.13 billion, an increase from $6.37 billion a year ago.

Both fell short of analyst expectations — the consensus was for earnings excluding items of $10.49 per share on revenue of $8.41 billion.

Shares of GOOG are down about 10% in after hour trading.

Tags: google, Internet