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Shares of Google Drop Nearly 15% Overnight

02/01/06

Have money invested in Google? Here's an unwelcomed morning surprise... Shares of the search engine giant dropped nearly 15% overnight on the heels of fourth quarter numbers being released.

Google announced yesterday that they had fallen short of their projections. While Google did manage to earn $372.2 Million in the fourth quarter of 2005, the earnings were said to be well short of the targeted estimates for both insiders to the organization as well as those in the financial sector.

"This shows that Google is not impervious" Standard & Poor's analyst Scott Kessler said Tuesday.

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