Google profit misses Street target [down almost 70 points in after-hours trading]
 

Google profit misses Street target

25 minutes ago

Web search and Internet stock phenomenon Google Inc. (Nasdaq:GOOG - news) on Tuesday posted a profit that missed Wall Street targets due largely to a higher than expected tax rate, sending its shares down as much as 19 percent in after hours trade.

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.

The consensus Wall Street prediction for net profit was $1.51 per share, according to Reuters Estimates.

Shares of Google later recovered slightly to $370, a loss of 15 percent, in volatile trading.

sell sell sell!

buy buy buy!

Let's see what happens in the morning. Glad I'm not in it. Stocks are to risky.

Catch a wave and you'll be sittin on top of the world.

Probably will be a sideways ride until the next quarter.. and then, back up or straight down.

They missed their profit expectatiosn by a mile... this could be a start of a downward ride back to $200...