More news sources dig into Google's bogus quarterly results

My assertion abut Google's fraud is being picked up by more and more news sources. You may dismiss my opinion as pure anti-Google sentiment, but the truth is getting out there and other "mainstream" media is reporting on it. You can't stop the signal, Mal.

Joining the party is today's story from TheStreet.com.  Read it for yourself.

Google was at 450 the day they announced their "earnings" and promptly skyrocketed up 90 dollars a share.  The only problem is that the earnings were entirely ficticious, based on currency translation and Google's arbitrary adjustment of their tax rate. To simplify the tax rate issue, Google is basically free to pick and choose whatever income tax rate they want, as long as they average out the number over the course of a year to come to the actual legal rate.  Google decided to slash their reported tax rate in the first quarter in order to avoid showing a first-ever yearly decline in profit.  The only problem is that the trick can't work all year- eventually they have to raise that tax rate unless they want to be prosecuted for tax fraud. Considering Google's growth has now literally STOPPED, we should see the stock below its Friday 450 level once enough people realize what is really going on.

Here's the blurb from TheStreet.com:

Consider the euphoric reaction to   Google's earnings after the market closed on Thursday, which seemed to be the proximate cause of Friday's market celebration. If I remember correctly, Google missed the previous quarter, estimates were cut several times during the most recently reported quarter, and the company only delivered on the original forecast. On top of which, Google's results showed another deceleration in its growth rate (especially of a domestic kind), and the company's earnings quality, as chronicled by Bill Fleckenstein below, might be an issue for analytical discussion in the weeks ahead:

"Google helped ignite an explosive party as it managed to win at 'beat the number,' as expectations had been lowered. And then, Google dropped its tax rate about 4 points, which wound up creating the illusion that the company experienced a spectacular quarter.... Google's earnings results, even with the tax-rate fiddle, were about where expectations had been set initially. Meanwhile, Google experienced a total collapse in its revenue growth rate. So, all in all, it was really much ado about not much."

Comments

[googlerulez]

Give it up. It doesn't matter how google beat the earnings estimates, the fact is that they did.

Nobody cares if they lied about the numbers, or used tricks, or if their revenue is actually crashing. All they care is that Maria Bartiromo nearly had an orgasm on CNBC when she saw the stock go up 80 points afterhours.

The average american who is buying Google stock has no idea what currency translation is, or what retained earnings are, or that companies can change their tax rates whenever they want.

All that matters is the stock price went up, and that Google has managed to install their toolbar on 99% of all browsers out there.

Google. Game. Set. Match. Nobody cares about fraud, all they care about is perception and the stock price.

[arpmcparple]

You say "Considering Google's growth has now literally STOPPED..."

The truth is

http://www.bbc.co.uk/blogs/technology/2008/04/google_how_big_is_too_big.html

You are a prime example of what is known in Australia as a soft cock. Loser, to you.

[admin]

You are a prime example of what is known in America as a "moron"

Nice fluff piece, focusing mainly on the free gourmet food in the cafeteria, as 10 million google fluff stories have done before.

I don't care how good the cafeteria food tastes, the fact remains that Google fraudulently faked their earnings this quarter. The CFO has resigned and left the company as of yesterday so there is nobody left accountable for what they did. Perfect timing.

When I say "growth has stopped" i'm talking about INCOME. I'm not claiming that"growth of free food in the cafeteria" has stopped, which is what your article is about.

There was this thing, and it was called the late 1990s, and every dot.com company in the valley had free gourmet food, and let you bring your dogs to work, and ride razor scooters in the hall. Lots of fun, and very impressive, yes? Especially if you have the mental abilities of a child.

[flobblemcdobble]

Yeah, that would be right: read the part of the article you want to.

Free food. That's nuthin'. Most of the Euro-Googler's were in Austria last week, skiing with the bosses. How about that...become Britain's leading advertising company whilst on the slopes. Some trick. By the way, the CFO resigned some time agao, and is being replaced. Apparently he's a bit sick, because he was vested and sold quite a bit of stock and the 'pre-Friday' price. I guess that's why he's an 'ex-CFO'.

And dude, you may not have noticed, but there's a recession on. Pretty much everybidy is belt-tightening.

Of course, I don't have to do that, because of the free sushi, but hey...

There, there...I think we've all worked out that you were just not bright enough for Mountain View. You should get over it.

[admin]

I've never applied for a job at Google- although I have eaten their free gourmet food several times.

Why is it that everyone assumes that anyone who points out Google's fraud must be someone who worked there and got fired, or never got hired?

You say free sushi, so I assume you're an employee at Google. Do you have any comprehension as to the arrogance you exude with every word you just typed? Or are you guys so out of touch with reality that nothing gets through?

[parpmcsnooble]

Google's fraud? Fraud? There is no evidence of fraud. Your sweeping all-inclusive staement are no more than bogus nonsense: all you can hope for is the occasional titbit of gossip which means nothing: your like one of those birds that sits on a hippo's back: it might peck occasionally, but the beast can't feel you, because you are insignificant.

Maybe you are trying to create a weird 'Think Secret' thing...hope that Google may buy you to shut you up. Maybe that's the only way you can make money. Or maybe you bought Google six months ago, dropped your bundle, sold out, and now see Google back up in the 500's and have your tighty whitey's in a knot.

And dude, I'm not arrogant. I'm just making fun. You are too immature to know the difference.

[fuckyourself]

Dude- you work at Google. Everyone in SV knows and talks about how Google employees are the most arrogant tards of any company around. We have to put up with them when they show up at parties unannounced, or when they're at the same restaurants treating the staff like they're royalty.

[parpmcsnooble]

Did you serve me once?

Truly, I'm laughing here.

[David]

'Free food. That's nuthin'. Most of the Euro-Googler's were in Austria last week, skiing with the bosses. How about that...become Britain's leading advertising company whilst on the slopes. Some trick. By the way, the CFO resigned some time agao, and is being replaced. Apparently he's a bit sick, because he was vested and sold quite a bit of stock and the 'pre-Friday' price. I guess that's why he's an 'ex-CFO'.

And dude, you may not have noticed, but there's a recession on. Pretty much everybidy is belt-tightening.

Of course, I don't have to do that, because of the free sushi, but hey...

There, there...I think we've all worked out that you were just not bright enough for Mountain View. You should get over it.'

If responding like that & letting out the fact googles wasting its shareholders profits as usual, shows your pretty stupid, if thats the kind of strategic forward thinking they employ, I guess either they are fucked or your actually just the Cleaning staff, munch down that sushi boy and keep taunting the fellow man, after all your a googler ,smart ,overfed,over paid, i wouldn't fucking employ you , your attitude is moronic. Me, yes i have my OWN internet company, i am a millionaire several times over, i dont go around shoving it in peoples faces and laughing, you fuckwit get a life & open your eyes, GOOGLE is IN trouble, clever people can see it. Oh & your claim tht googlers manage to ski & turn into the uk's leading advertising agency just shows your o/d'ing on the company Kool aid,utter crap! try akqa or several other agencies's which can legitamately say this, the only thing that google is any good at is search, A one trick pony begging to be bettered....