Investors cheered and Google’s shares soared 17 per cent to $527.85 on Friday April 18th.  The internet pioneer’s search-engine advertising business had stood up better than expected in the face of the US economic slowdown. On the pro forma basis on which Wall Street judges the company, earnings per share reached $4.84, compared with analysts’ expectations of $4.52. 

Google completed its $3.1bn acquisition of online advertising group DoubleClick in March after receiving the green light from European competition authorities.  It promptly has taken steps to cut a quarter of its US workforce at DoubleClick.  The job cuts are related to a significant technology overlap.  Source: FT

BIIA Newsletter April 2008 Issuee