Friday, July 18, 2008

In Surprise, 2 Tech Titans Disappoint -

This will be an interesting day on Wall Street

Like two straight-A students who uncharacteristically fail an exam, the technology titans Google and Microsoft issued quarterly results on Thursday that disappointed investors.


Google executives argued that they were more protected than rivals against choppy economic waters.

“We don’t believe we are inoculated from global economics, but we do believe if there is a worsening, we do better than anyone else in the ad industry,” Eric E. Schmidt, Google’s chief executive, said in an interview.


I.B.M. is clearly benefiting from its global advance; it beat Wall Street’s estimates soundly on Thursday. The company said that its net income rose 22 percent in the second quarter compared with a year ago, to $2.77 billion, or $1.98 a share.

Analysts had expected $1.82 a share, according to a survey by Thomson Financial.

In Surprise, 2 Tech Titans Disappoint -

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