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It seems that recession is finally here. A report that Google's earnings did not meet analysts' expectations has surfaced.
The good news:
Google earned $1.21 billion, or $3.79 per share, during the final three months of 2007. That's up 17 percent from net income of $1.03 billion, or $3.29 per share, in the same period a year earlier.
The bad news:
It's the first time Google's quarterly profit has climbed by less than 25 percent since the Mountain View-based company went public nearly 3 1/2 years ago.
Why is Google failing? One report says that Google is having difficulty selling ads on social networking sites. Sergey Brin has been quoted as saying "I don’t think we have the killer best way to advertise social networking. Some of the things we were working on in Q4 didn’t pan out. There were some disappointments there.”
Is the end near for Google? Forum discussion continues at WebmasterWorld.
