Google and IBM quarterly results 'disappoint'
Thursday 17 April 2014
Fears that the technology sector is overheating grew last night as Google and IBM posted disappointing quarterly results.
Google shares tumbled after the company’s results missed analyst forecasts during the first three months of the year.
Although profits were $3.45 billion (£2.05 billion), the average “cost per click” was down 9% from a year earlier, raising concerns about future advertising revenues. It was also hit by the discounted sale of Motorola Mobility to Lenovo in the period for $3 billion, having spent $12.5 billion on the smartphone maker in May 2012.
Meanwhile, IBM reported its lowest quarterly revenue in five years, down 4% to $22.5 billion, because of weak hardware sales.
Both results come after investors turned their backs on companies like Amazon and Yahoo! at the start of the week. Stock market listings by firms like King, creator of Candy Crush, have fared badly.
- 1 End of the licence fee: BBC to back radical overhaul of how it is funded
- 2 This restaurant has misunderstood the concept of 'cheese and biscuits'
- 3 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 PornHub turns masturbation into energy in bid to save the planet
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
End of the licence fee: BBC to back radical overhaul of how it is funded
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
iJobs Money & Business
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£15000 - £16000 per annum: Recruitment Genius: A Customer Service Advisor is r...
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...