The stock plummets in after-hours trading after Google posts second-quarter revenue of $14.11 billion, up 19 percent over last year, but well below Wall Street's estimate.
So much for Google $1,000 -- at least not in the near future.
So much for Google $1,000 -- at least not in the near future.
In recent days, analysts have talked about shares of Google's surging stock breaking through the $1,000 barrier, but that was before the company announced its second quarter earnings report Thursday, which missed Wall Street's lofty estimates. Google reported revenue of more than $14 billion for its second quarter, showing investors a 19 percent increase from the same quarter last year, the company posted on Thursday.
Google said its net income for the second quarter was $3.23 billion, compared to $2.79 billion in the second quarter of 2012. Q2 ended on June 30. The company's earnings per share was $9.71, which is down from last year's $10.13. The $14.11 in revenue missed Wall Street's expectations of $14.41 billion and $10.78 a share.
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