GOOG statement

iceman1

iceman1

had to jump on the GOOG bandwagon and start another thread in case no one saw this statement AH.

:D :D


Briefing.com
18:30 GOOG Google issues press statement -Update-

George Reyes, Chief Financial Officer of Google Inc, participated earlier today in the Merrill Lynch Internet, Advertising, Information, & Education conference. At this conference, Mr. Reyes made remarks regarding, among other things, revenue growth trends and expected sources of revenue growth. We would like to clarify and provide further information on these statements. As we have stated before, monetization improvements will continue to be a key factor in driving future revenue growth. We still see significant opportunities to improve monetization and intend to continue to focus our efforts in this area. Moreover, as we have stated in our SEC filings, our revenue growth rate has generally declined over time and we expect that it will continue to do so as a result of the difficulty of maintaining growth rates on a percentage basis as our revenues increase to higher levels.
 
and this from Briefing.com:



28-Feb-06

11:10 ET

Google:
352.68 -37.70: Call it the shot heard around the stock market world today.

According to Dow Jones, Google's CFO, citing "the law of large numbers," indicated at the Merrill Lynch investor conference that the company's growth, which is now largely organic, is slowing and that it will have to find other ways to boost revenue. The slowdown isn't expected to be precipitous and management still believes there is a lot of growth ahead with headroom in keyword ad pricing and particular opportunity in the local and mobile products categories. The key caveat from the CFO there, however, is that the growth rate is questionable.

Reports note that the CFO added that he isn't turning bearish at all. For a highflying stock like Google, however, any indication that growth is slowing is all that is needed to prompt a bearish reaction as a sell first, ask questions later mentality is the modus operandi of momentum investors.

This update from Google follows on the heels of what was considered to be a disappointing fourth quarter earnings report from the company. Disappointing is a relative term when taking into account that Google's earnings were up 82% from the year-ago period; nonetheless, a higher than expected tax rate left the company's earnings below analysts' exceedingly high expectations. Shares of GOOG dropped as much as 10% that day before closing with a loss of 7.0%. The stock has struggled to regain its swagger since then and today's news will only make things more difficult.

Google's surprise update has been a market mover that has prompted an extension of today's losses and has raised the bar of uncertainty for its investors, which is never a good thing. Google, incidentally, is supposed to be holding an analyst meeting on Thursday, March 2. It should be an interesting one to say the least.

--Patrick J. O'Hare, Briefing.com
 
I am done trading Goog for the year. As a matter of fact I am done trading for the year. Goog has made me a very happy man this year. And all I was doing was buying when the squuezes were taking place. It was a gamble but it paid off twice for 45 points each time. Yet each time I was buying at nice support levels. See you all in '07
 
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