Google earnings coverage missing currency impact
TheStreet.com media critic Marek Fuchs writes Friday about the lackluster performance of business journalists in covering Google’s recent earnings release because they failed to notice the impact of currency exchanges.
Fuchs writes, “The New York Times had a cutsey lead about how Google and Microsoft, which also disappointed, were like two brainy nerds who failed an exam. The story spent some time on possible positives looking forward, but it mentioned nothing at all about this possible negative, which Google itself had put right out there.
“Radio silence on the issue came from the Financial Times too.
“Ditto for Reuters.
“We could go on. And on. It wouldn’t be such an oversight if these media outlets had had to dig for this potentially important line in Google’s press release. But there it was, jumping up and down, just asking to be mentioned alongside other factors related to the company’s future. International is, after all, now more than half Google’s business.”
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