The Binary Circumstance

From Yahoo News:

SAN FRANCISCO - Google Inc.’s fourth-quarter profit nearly doubled, but fell well below the high expectations for the online search engine leader.

The Mountain View, Calif-based company said Tuesday that it earned $372.2 million, or $1.22 per share, for the final three months of 2005. That represented an 82 percent increase from net income of $204.1 million, or 71 cents per share, in the previous year.

If not for a donation to launch its charitable foundation and stock compensation expenses, Google said it would have earned $1.54 per share. That missed the average estimate of $1.76 per share among 31 analysts surveyed by Thomson Financial.

Google released its results after the stock market closed Tuesday. Company shares plunged $59.16 — 13.7 percent — in after-hours trading after gaining $5.84 to close at $432.66 Tuesday on the Nasdaq Stock Market. At one point, the stock was down more than 19 percent in late trade.

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