“Google got off to a mixed start under its new chief executive, co-founder Larry Page, as first-quarter revenue increased 27 percent while profit fell short of analyst expectations. Google reported that net income in the quarter rose 17 percent to $2.3 billion, or $7.04 cents a share, from $1.96 billion, or $6.06 a share in the year-ago quarter. The company said revenue climbed to $8.58 billion from $6.77 billion. Google’s adjusted income of $8.08 was just below the expectations of Wall Street analysts. They had forecast $8.11 cents a share on that basis, according to a survey of analysts by Thomson Reuters.”
Is “$7.04 cents” to be understood as “7.04 dollars” or “7.04 cents” (i.e. in the latter case, 0.0704 dollars)? A case of information overload? or I just don’t have the relevant culture?
Edited 2011-04-15 09:58 UTC
No, you’re right, the figures aren’t written properly. The revenue isn’t reported properly either. At the beginning it says income rose to 2.3 billion, but later it says revenue climbed to 8.58 billion. Either they’re mixing quarters with annual income, or they mean income climbed _by_ 2.3 billion. I think whoever wrote the original report wasn’t at all familiar with finance.