Google profits 82% up, shares drop

Posted on Wednesday, February 01 2006 @ 0:37 CET by Thomas De Maesschalck

Google today announced their financial results. They were lower than Wall Street analysts predicted due to a higher-than-expected tax rate and Google's shares took a big drop in after hours trading.

Google's stock closed at $432.66 today and at press time it has dropped 12.40 percent to $379 in after hours trading.

Google's net income for Q4 2005 was $372.2 million, which is 82 percent more than last year's $204.1 million.

Net income for the fourth quarter rose to $372.2 million, or $1.22 per diluted share, from the year earlier quarter's $204.1 million, or 71 cents a share.

Gross revenue grew 86 percent to $1.92 billion as advertising revenues soared, meeting analysts' targets.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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