"Contrary to what the rest of the world believes, Google earnings are all but irrelevant except in the very short term."
Money Morning Chief Investment Strategist Keith Fitz-Gerald knows Google Inc. (Nasdaq: GOOG, GOOGL) well. He has followed the tech giant since its founding in 1998. Just last week, Fitz-Gerald notched a successful prediction he'd made years ago when the EU filed antitrust charges against Google on April 15.
GOOG earnings were released post-market today (Thursday)...
Google Inc. (Nasdaq: GOOG, GOOGL) reported fourth quarter earnings per share (EPS) of $6.88 - $0.20 under projections. Revenue came in at $14.5 billion (16.9% growth year over year), also under expectations by $110 million.
Our advice: ignore the bottom line miss. Ignore chatter about how Google's advertising has lost steam (the average price of Google's digital advertisements fell 3%).