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softball · 04-15-2011

Investors Agog At Google Spending

Shares in Google (NasdaqGS: GOOG - news) have fallen further as investors worry about the direction of the internet giant under its co-founder and new chief executive, Larry Page.

Google stock lost 5% of its value on Thursday following the company's first quarter results, leaving it 9% lower since Page replaced Eric Schmidt in January.

It was a result of a spend of almost $3bn on chasing business opportunities - with 2,000 new staff hired in the period to help find new markets and technologies and jump-start growth.

Salaries were also boosted in a bid to retain staff.

The costs figure overshadowed a 29% rise in net revenue to $6.5bn and analysts say Wall Street is crying out to hear a clear strategy as Google battles leading social networkers but also chases new business opportunities outside the online market.

04-15-2011	#9
softball Members Want to see your own Advertising Here! Join Date: Jul 2005 Posts: 6,165	Re: Lots of crying over Panda Investors Agog At Google Spending Shares in Google (NasdaqGS: GOOG - news) have fallen further as investors worry about the direction of the internet giant under its co-founder and new chief executive, Larry Page. Google stock lost 5% of its value on Thursday following the company's first quarter results, leaving it 9% lower since Page replaced Eric Schmidt in January. It was a result of a spend of almost $3bn on chasing business opportunities - with 2,000 new staff hired in the period to help find new markets and technologies and jump-start growth. Salaries were also boosted in a bid to retain staff. The costs figure overshadowed a 29% rise in net revenue to $6.5bn and analysts say Wall Street is crying out to hear a clear strategy as Google battles leading social networkers but also chases new business opportunities outside the online market.