By Kyle Austin
January 31st, 2008
By Kyle Austin
So Punxsutawney Phil won’t be looking for his shadow until Saturday but for Larry, Sergey and the rest of NASDAQ -Groundhog’s Day is today. Today at 4:30 p.m ET Google will release its Q4 earnings and if you’ve been following any of the lead-up stories to this “event,” it would seem that the entire hopes of the technology sector loom in the balance.
If Sergey and Larry appear out of their Mountain View bunker (for their earnings call) and see their shadow (anything less then blowout earnings) we are certainly headed towards six more weeks of winter and more importantly into a bear market which signifies a near full-on technology industry recession. At least that’s how the scribes are spinning it.
In his “Big Tech” blog, Fortune’s Jon Fortt takes a look at how important Google’s results will be to the entire tech industry in a post titled “What if Google Misses?” In the post Fortt points out that:
“Anything short of blowout earnings from Google and steady confidence from executives could rattle not only Google but also the whole Internet sector — though Yahoo (YHOO) has already done its part to put folks on edge.”
However, Wendy Tanaka at Forbes is bullish on Google. She writes that Google is expected to announce “40% increase in net income and a 54% jump in revenues for the fourth quarter.” She also spins Yahoo!’s results in a slightly more positive tone:
“Yahoo! finally had something to “yahoo” about on Tuesday as it reported fourth-quarter earnings that beat analysts by $0.04 cents per share. The struggling Internet giant reported earnings of $0.15 per share, compared to estimates of $0.11.”
Even if Sergey and Larry see their shadows today they will have 16 more years to try their luck again according to what they said in an interview with Adam Lashinsky of Fortune.
In a rare three-way interview (That CEO guy named Eric Schmidt joined them as well), the Google boys at the top told Lashinsky that they all pledged to stay with the company for 20 years in July of 2004 before their IPO.
Will year five start out on a positive note? Stay tuned.
Entry Filed under: Mainstream Media