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01 Feb 2006
Google investors let reality kick in after the search engine reported only a 86 per cent increase in revenue, and sent the company's stock down by about 12 per cent in after hours trading.
Given that Google was generally considered over-valuated, the correction was only healthy and destined to happen at some point.
Luckily it were mainly Google shareholders and not its management that has been high on dope – well and employees that considered their stock options their way to instant richness.
The search engine can now focus on getting Gmail out of beta, building the Google operating system and censoring its Chinese website rather than having to deal with pushy investors who are only interested in unrealistic growth figures.
pursuing bubbles... when will they ever learn?
Tags: google, stock market, bubble, revenue
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