Scotsman.com Business – Top Stories – Google whacks Wall Street’s predictions — I would now like to go back to revisit all those experts who said Google stock was overpriced at the IPO and it was never going to really go anywhere. That would be fun!
SEARCH engine icon Google has shattered Wall Street expectations with a near sixfold surge in quarterly profits.
The California-based group – best known for its Google.com website – said more consumers clicked on its search ads, more advertisers moved to the web and company costs fell.
First-quarter net income of about �283 million eclipsed even the most optimistic of market forecasts. Shares in Google rallied in after-hours trading to stand at more than twice the value they were at the time of the group%u2019s flotation last August.
It’s 215 today!
I bought Krispy Kreme instead.
Damn!
Don’t laugh.
For my 10,000 share investment, they gave me 13 cases of Double-Glazed Dulch de Leche with Heirloom Blueberry Fraiche filling.
And what about that “glazed doughnut frozen beverage”
product ?
Brilliant, am I right? You can drink your donut. Great for people so fat they can’t chew anymore.
Who could imagine this could fail?
I mean, who knew?
The P/E ratio is still 87. It’s not exactly a value stock. I think they call this a momentum stock. Now’s the perfect time to buy Google and a house.
I love it….nothing like a company making money to make Wall Street pundits look bad. 🙂
Boy do I wish I had $10,000 to buy it at $100 🙁
And did the stock holders really expect anything less from Google? Seems silly.
Hey John, didn’t you write an article for PC Mag that talked about how Google’s IPO was the beginning of another dot.com boom / bust cycle? Perhaps I am remembering wrong. If I’m right…are you one of the pundits that you would like to take to task? 🙂
Mike T
Google makes money and that’s about it. I think the bubble will get bigger, so it should go up. You never know. At a certain point, it has to reach the natural limit and it will come down. The question is, what will come down with it? This is just micro-inflation. I hope it doesn’t come down all at once, like recent tech history reminds us can happen.
Mike, I wrote a couple of articles saying that the Google IPO would be a success and become the true triggering mechanism for the next bubble. The others were saying that the stock was too expensive and it was all a scam. I then wrote a column in CBS Marketwatch saying how these pundits were part of a scheme to keep the middlemen in the picture by trashing the stock. Google had bypassed the middlemen and went to an open auction for its IPO. So tell me exactly why I am supposed to take myself to task for this accurate (so far) assessment? I’m wondering what you are getting at. Please explain!
My apologies. I just seemed to recall a different tone in your articles about the stock being another “beginning of the end” so to speak. I stand corrected.
Mike T
You can sit corrected too. You are partially right here. It is the beginning of the end. But the “end” is around 2009.