Thursday, January 20, 2011

Eric Schmidt Stepping Down As Google CEO (GOOG)

Very interesting development in the land of Google, Eric Schmidt is stepping down to become executive chairman with Larry Page taking over as CEO. Did they take a page out of the Steve Jobs play book or what? Google stock is up after hours, high print was 653, currently trading 643.

Google reports Q4 EPS $8.75 vs. consensus $8.09
Reports Q4 revenue ex-tac $6.37B vs. consensus $6.06B

( writes) "Schmidt, who became CEO in 2001, will assume the role of executive chairman, focusing on deals and government outreach, among other things.
Page, who co-founded Google with Sergey Brin, will take charge of day-to-day operations as CEO.
Google also reported fourth-quarter financial results, beating Wall Street's net revenue expectations.
Net revenue, excluding fees that Google paid to partner websites, was $6.37 billion. Analysts polled by Thomson Reuters I/B/E/S, on average, were expecting net revenue of $6.06 billion."
 Per GOOG conference call ""We have touched just 1% of the capabilities that could be deployed in that realm, and I think you should expect us to continue to develop those kind of capabilities."
I think social search is very interesting.