So much for the Chinese domain renewal
's shares slid sharply in after-hours trading after the company reported lower than expected second quarter profit. Shares tumbled over 4% to $473.
Both revenue and profit were up by almost 24% compared to last year but the street had been expecting that number to be near 40%. While the numbers may be disappointing to some, they point to the facts that Google's (News
) foundation remains solid and the company continues to enjoy growth across all its large businesses, chiefly search and mobile.
's share were up by over 1% in after-hours training. This could indicate that traders view one company's weakness as another company's opportunity. Adoption of Google's mobile platform, Android (News
), has been accelerating, jeopardizing Apple's dominant position which has been battling the iPhone 4 antenna malfunction issue, known as the death grip among the users.
Robert Hashemian is VP of Web Development for TMCnet.com with a keen interest in financial markets. To read more of Robert’s articles, please visit his columnist page. He also maintains his personal Web site at www.hashemian.com.
) has scheduled a press conference to address the antenna issue on Friday. It will deliver its third quarter financial results on Tuesday after the market close. Results are expected to be broadly positive.