Wall Street Stories June 22, 2012


One Wall Street analyst is calling into question Google’s co-founder, Larry Page, and his health, due to the executive’s notable absence from the company shareholders’ meeting on Thursday.

Google Executive Chairman Eric Schmidt, who bequeathed his CEO title to Page in April 2011, told shareholders that the chief executive “lost his voice.” Schmidt further revealed Page would not attend the Google I/O developer conference next week or Google’s Q2 earnings call next month (as seen in the video above). Page will, however, maintain his post duties and continue an active role at Google while his voice recuperates over the next few weeks.

According to Canada.com, a Google representative explained that Page was “asked to rest.” No more information on the CEO’s mysterious voice condition is available at this time, but JP Morgan analyst Doug Anmuth debated Google’s excuse for Page in a note to investors today:

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Wall Street Stories June 3, 2011

Some interesting Larry Page quotes coming out of Google’s annual shareholder meeting from yesterday afternoon, courtesy of a Cowen and Company analyst Jim Friedland. Page is adamant to prevent his company from losing focus due to a Soviet-like bureaucracy which destroyed Nokia. The new CEO is going to re-create the startup culture at Google and ensure that the vast majority of resources are poured into search and advertising.

“We’re not betting the farm on speculative technology projects”, he said, adding there was still “a tremendous opportunity” in increasing ad relevance. Page told Wall Street analysts and shareholders that Google is committed to making money from free products, specifically citing Android as an example. He then switched into the “Moon shots” talk:

Our goal is to aim high to achieve important things to continue to grow this company.

So, at Google the Sun is still revolving around search, search, search (and ads, ads, ads). In that respect, Android is increasingly looking like the biggest growth opportunity in the long run…

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