Last night I was speaking with one of my new neighbors, who is a successful serial entrepreneur. I asked about his latest venture and whether he might be interested in taking the company public. "That's not for me," he responded. "I don't like living quarter to quarter." See Google.
Google's second-quarter revenues were $3.87 billion, up 58% over the second quarter of 2006 ... and it's stock is plummeting in after-hours trading.
The problem is pretty simple: Google's earnings came in below projections. Valleywag's account of the conference call: "Schmidt fesses up: Google has overhired, causing costs to rise. He says the company is going to be watching headcount going forward."
There's always next quarter.
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1. Posted by David Friedman on July 23, 2007 @ 15:46 | Permalink
A strategy consulting nightmare:
Having the CFO tell you that earnings came in two-cents shorter than expected for the quarter. And that your fees accounted for one-cent of that.
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