Google is still pulling in money hand over fist, but Wall Street is hungry for the company’s next act, Conor Dougherty reports.
On a conference call with analysts on Thursday, after Google reported its third-quarter earnings, the questions came fast and furious: How will Google match Apple’s new payment system? Can YouTube topple television? Is Google serious about trying to challenge Amazon on same-day delivery?
The problem was that in the earnings report, the Internet giant showed signs that its ultraprofitable business in search advertising was starting to slow.
In almost every way, Google has become a victim of its own success. Its search engine remains dominant in desktop computers and mobile phones, and businesses like YouTube and the Google Play store are growing quickly. The company churns out billions in quarterly profit and has a $60 billion cash hoard. Read more »