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Google shares drop by $53

The highs and the lows
By Cher Price
Wed Feb 01 2006, 08:56
GOODIE TWO shoes web firm Google Inc saw its shares slide by over $53 in after hours trading after it turned in results which confounded Wall Street mavens.

Wall Street mavens, by and large, and by the way, have a solid track record of being confounded.

Google (tick: GOOG) only turned in a net profit of $372.2 million on revenues of $1.92 billion, while the Wall Streeters hoped the reults would be better than that.

Google blamed the perceived shortfall on a different tax rate applied to its results. µ

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