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Crisp, Clean, and no Caffeine
February 10, 2006
I wrote an article two weeks ago on the eve of the much-anticipated release of Google’s fourth quarter earnings. I must say that I have been amazed, but not surprised, at the reaction of Wall Street.
Ok, so you’re wondering what in the world the title has to do with Wall Street. Well, if you’re old enough to remember the 7up commercials from, shall we say, many years ago this was their catch phrase. One that rings true in light of this discussion.
As probably everyone is aware Google’s earnings were not quite what Wall Street expected. By looking at Wall Street’s reaction one would think that Google’s servers had been compromised by Bush’s wiretapping. In reality how can one be upset with earnings that represent a 22 % increase over the prior quarter, and an 86 % increase over the previous year’s same quarter earnings? But, you see, I said the magic word……reality. We can never forget that Wall Street is built on perception, not reality. Now I’m not saying that the self-corrective nature of the markets are not good, they just should not be viewed as perfect.
I must say that I find Google’s refusal to disclose earnings predictions quite refreshing. Google is doing what more companies should do, and that is be more concerned about fulfilling their mission, than about fulfilling their shareholders. If you’re curious about just trying to fulfill shareholders look no further than the recent scandals.
So Google, Yahoo, MSN, etc., continue to strive to produce a good product, not please Wall Street. If you are always striving for a better product, then your customers and Wall Street will be pleased. Actually, you’ll probably be heralded as a “revolutionary� company who put first things first.
Isn’t it crazy how simple things can really be. Just do a good job, the rest will take care of itself.
All posts by Brent Sharp
posted by Brent Sharp at February 10, 2006 04:01 PM
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