Google Misses: Shares Blow Up
Investors are giving it to Google (GOOG) through the nose in bitter after hours trading.The internet giant missed Wall Street's fourth-quarter profit view by a huge margin Tuesday, sending its shares to a 4 month low.
The Mountain View, Calif., company made $372 million, or $1.22 a share, up from the year-ago $204 million, or 71 cents a share.
More important, the search giant reported $1.54 a share. The Street wanted nothing less than $1.76.
One surprise came on the tax line, where Gooogle had guided for 30% but came in at 31.6% for the year and 41.8% for the latest quarter -- it cited a rise in costs internationally.
Our $600 target was way off -- we'll have more on this tonight after our parent network SeekingAlpha.com releases the transcript.
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