Tech giant made billions in profits last year, but it didn’t hit the street’s expectations
Google fell short of analysts' expectations for its fourth-quarter earnings, which the company released after market close on Thursday.
The tech giant reported $10.58 billion billion in revenue — a 25 percent climb over comparable period a year ago — and earnings per share of $9.50.
For another company, those might be great figures, but the street was banking on earnings per share of $10.49.
Google also posted a 6 percent profit gain $2.71 billion for the fourth quarter profit.
Shares of the company have already fallen around 10 percent in after hours trading.
CEO Larry Page struck an upbeat tone in a statement and in the earnings call, pointing out the increase in revenues and the widespread adoption of Google+, which now boasts 90 million users worldwide.
"Google had a really strong quarter ending a great year," Page said. "[…] I'm super excited about the growth of Android, Gmail and Google+, which now has 90 million users globally — well over double what I announced just three months ago."
Some of the other numbers he trumpeted:
More than 200 Google+ updates since it launched in June with more than 60 percent of Google+ users engaging daily.
250 million Android devices in total, up by 50 million since its November earnings call.
More than 11 billion downloads from the Android market.
More than 350 million active Gmail users.
Not a bad day for Page to get on the phone, as earlier on Thursday Fortune named Google the top company to work for in 2012.