Google, Microsoft Miss Top And Bottom Line; Stocks Tumble

Following yesterday's disappointing results from Intel, and the IBM revenue miss, completing the sad state of Q2 earnings season for tech companies are the just reported GOOG and MSFT results, both which missed not only on the topline but also on the bottom line. Guess they didn't have billions in reserve releases and Available For Sale MTM fudges to confuse HFT algos and pundits with.

On GOOG:

  • GOOGLE 2Q REV. EX-TAC $11.10, EST. $11.33B
  • GOOGLE 2Q NON-GAAP EPS $9.56, EST. $10.80
  • GOOGLE 2Q AVERAGE COST-PER-CLICK FELL 6% VS YEAR AGO
  • GOOGLE 2Q SITES REVENUE $8.87 BILLION
  • INTERNATIONAL REVENUE $7.28 BILLION
  • TRAFFIC ACQUISITION COSTS $3.01 BILLION

And MSFT:

  • MICROSOFT 4Q REV. $19.90B, EST. $20.72B
  • MICROSOFT 4Q EPS 59C, EST. 75C
  • MICROSOFT SAYS 4Q AFFECTED BY DECLINE IN PC MARKET

After hours: bloodbath, at least until the HFT algos start buying up NQ and ES futures. After all those never report and never disappoint.

Wait, we know: weather's fault.