GOOGLE MISSES!

GOOGLE MISSES!:

Google's earnings numbers are out and it's a surprising miss.

Revenue and earnings are lighter than Wall Street expected, and now the stock is getting punished, falling after hours, down as much as 10%.

On the earnings call, Google's executives attributed the worse than expected results to a combination of things: a weak economy, a weak U.S. dollar, and some new ad formats.

Here are the key numbers from Google versus expectations where appropriate:

• Gross Revenue: $10.6 billion versus $10.7 billion (Citi estimate, not Street)

• Net Revenue: $8.13 billion versus $8.38 billion

• Non-GAAP EPS: $9.50 versus $10.46

• Non-GAAP Operating income: $4.04 billion

• Google sites gross revenue: $7.29 billion versus $7.52 billion (Citi estimate, not Street)

• Google added 1,114 employees in the quarter

• Google+ now has 90 million users

• Google has $44.6 billion in cash on hand

• Free cash flow in the quarter was $3 billion

• Google+ has 90 million users. (What is a user? Active and engaged, or just signed up?)

Read more: http://www.businessinsider.com/live-google-earnings-2012-1#ixzz1jwvWFKhC

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