Google Q2 Financial Results Mixed
Google reports overall strong quarter but both capital spending and acquisitions for the future causes concern. Revenues (top line) were higher than expected, but Net Income (bottom line) was lower than expected. Google has increased competition. Google also announced a $3 billion commercial paper borrowing program to be used for "general corporate purposes". Google is searching for other businesses, additional revenue streams. This has resulted in an increase in costs and hence a drag on net income. There is a wall of worry for investors but Google is still making money and generating cash!
Google Q2 Earnings Call & Review (Video) here
Google Q2 Financial Results (Quick Review) here
Google Announces $3 Billion Commercial Paper Program here
DEER ISLE, MAINE -- Marek Fuchs, TheStreet's media critic, wades through Google earnings coverage.