Why Everyone Is Wrong On Google
by Efficient Alpha
Shares of Google (GOOG) tumbled more than 10% last Thursday as the company reported third quarter revenue of $11.3 billion, well under the average estimate for $11.8 billion and more than 15% below expectations for earnings of $10.65 per share. Like so many internet companies this year, the blame for poor earnings was put squarely on the company's inability to monetize mobile traffic. The world's largest search engine has been able to collect only about two-thirds the price it charges PC users for mobile ads and about 25% less than it charges for ads run on tablets. read more »
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