Google shares drop on news of 28% rise in earnings

07/20/2007 | NYTimes.com · Washington Post, The

Google's Q2 net income rose 28% to $925 million, on revenues $3.87 billion. The numbers failed to impress Wall Street, which had higher expectations. As a result, shares dropped about 7% in after-hours trading. Google CEO Eric Schmidt cited the company's intensive hiring push as the cause of higher-than-expected expenses.

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