Unlike biotech, where the name of the game seems to be finding optimism in every bit of news, quite the opposite seems to be true in established tech names. So while
Google's (Nasdaq:
GOOG) business continues to grow well and produce copious
cash flow, attention seems to inevitably go to the relatively few problem areas or controversial bits of the story. That said, Google shares still look as though they are priced for fairly modest performance.
Fiscal First Quarter Results Come in Well
Google posted solid results for the first quarter. While
revenue was flat sequentially, it did climb 24% on an annual comparison. Website revenue was up nearly 24%, while network revenue was up 20%. Paid clicks climbed 39%, while cost per click was down a more-than-expected 12%.
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