Google: One Number to Watch
January 23, 2013
I have little to add to the coverage of Google’s stunning financial performance. The company is half to the $100 billion goal which the company says is not a goal. Go figure. Any way, you can read the good news in “Google Worries Face as Results Spark Rally.” The write up reports:
“Google’s fourth-quarter metrics helped calm the biggest Google bear case: that all-things-mobile were eroding its financial position,” Pacific Crest analyst Evan Wilson said in a note. “We continue to think mobile worry could fade and start to look like last year’s bear case.” To be sure, other concerns remain. One of them is Motorola Mobility which continues to weigh down Google’s financials. In a note, Canaccord analyst Michael Graham said the Motorola Mobility handset division “appears to be in free-fall for now, pressuring consolidated revenue estimates” even as he also said Google’s report “prompted a sigh of relief from investors nervous after a few bumpy quarters.”
I find this comment about Motorola insightful. But the number I watch is Google’s expenses. I also am interested in the speed with which these are rising or falling. See http://goo.gl/XW0Ln.
Expenses for fiscal 2011 were $26,163. Expenses for fiscal 2012 were $37,415. Hmm. These are millions, not George Washington dollars. Even in Harrod’s Creek, that is a jump which warrants an eyebrow twitch. Maybe normal budget concerns do not apply in Silicon Valley, the original Go Go Land?
Stephen E Arnold, January 23, 2013
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