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The Google Boys have a bad day at the office

Larry Page and Sergey Brin are  taken aback  as Google  turns  in  an unexpectedly  disappointing first quarter for  2014.

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Larry Page and Sergey Brin the multi -billionaire co-founders of search engine giants Google have been around along enough to have learned that when you play big, you sometimes also lose big.

And that’s what they succeeded in doing when  their first quarter results for  2014 came in, which immediately caused their stock value  to drop by 3.6%.  Both Page and Brin each took a personal drop in  their personal wealth level of close to $1 billion each, with Page currently worth $29.6 billion, while  Brin is down to  $29.3 billion, with both of them still clinging gamely on to their positions as the 19th and 20th wealthiest people on the planet.

Google returned first quarter earnings per share of  $6.27 before special costs  were taken into account, on net income of $12.19 billion. Industry analysts, as well as Brin and Page, had been looking forward to earnings of  $6.33 per share and $12.3 billion in net income for the quarter.

What may have the Google boys scratching their heads is the statistics for the quarter reportedly show that their  ad business  has continued to display what has become a familiar pattern, with the number of web surfers clicking on ads placed on web sites  of on  the increase, and considerably so- up by more than a quarter from the same period in 2013.  The fall in income was caused by a drop in the “ cost per click” income per  advertisement  fell by 9%, with analysts pointing to the fact that maybe  are lagging behind in deriving income from mobile ads as the world gradually veers away from surfing on traditional  desktop computers.

Brin and Page continue to set an example to other of the key players in the social media, software and hardware industries by refusing to draw  any form of salary or bonuses, depending entirely on income from their considerable shareholdings.



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