Google has suffered the rare indignity of falling below Wall Street expectations after announcing its earnings for Q4 2011.
Company stock dropped a whopping ten per cent in after-hours trading after reporting net revenue of $8.13 billion (£5.25bn) and $9.50 (£6.13) in earnings per share.
While those figures still put the company in a position to be envied by almost every other publicly traded entity in the world, Wall Street was expecting more. Experts had predicted $8.40 billion in net revenue and $10.49 in earnings per share.
Not everything is bad, although it's rare that Google misses the mark, the company is heralding it's first $10 billion+ quarter, before "traffic acquisition costs." and a 25 per cent gain on the corresponding quarter in 2010.
Google’s headcount grew from 31,353 last quarter to 32,467 — an increase of 1,114.
There will be an earnings conference call with Google execs beginning at 4:30 PM EST; stay tuned for more posts with our coverage of any further details revealed by Larry Page and company.