BBC Online is reporting that
Shares of internet search company Google fell 7% on Wednesday after its earnings fell short of Wall Street expectations for the first time.
The firm said late on Tuesday that fourth-quarter profit rose by 82% to $372.2m (£209m), or $1.22 per share. Analysts had expected $1.50 a share.
Google’s stock fell $30.88 to $401.78 in New York amid concerns that the tech-industry giant may be overvalued.
Well, well. The ingratitude of Wall Street. And after Google’s capitulation to the Chinese regime, too. There’s no pleasing some capitalists.