GOOG: Google's Phony Beat

Google's Phony Beat
by Dana Blankenhorn

Google (GOOG) has reached its Charlie Sheen period. It's #winning, and if you think it's a buy today you're as loony as he was.
The company's latest earnings "beat" is, in fact, anything but. It's the product of some interesting accounting, the recognition of a full year's Federal research credit in one quarter. Take that out and the reported $11.58/share in earnings becomes $10.36. The expectation was for earnings of $10.69/share. read more »

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