Google to report proforma earnings, not just net

Google Inc. has agreed to meet Wall Street halfway in how it reports quarterly results, seeking to dispel confusion created by a strict adherence to accounting standards, the company said on Thursday.

The Web search leader said it would present its third-quarter results next Thursday, October 20, in net terms but also, for the first time, in operating terms, excluding the after-tax effect of expensing employee stock options.

Who could blame Wall Street for wanting to know the cost of stock options when Google is giving away huge ones.

With all the economic uncertainty that has been floating through the economy I am betting Google has a soft quarter compared to all the home run quarters they have been announcing.

I am guessing the stock may go down to $250 to $275, at which point it might be a good time to buy Yahoo! if they go down in tandem. I say all this while not having the money or guts to short Google's stock ;)

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