The Mountain View, California-based Google Inc (NASDAQ:GOOG) is lowering almost 1,200 employments at its Motorola Mobility Holdings Inc business, a person with knowledge about the issue said.
The decrease comes 7 months after the world’s biggest search engine site owner reported it was lowering 4,000 jobs or almost 20% of the staff, at the corporation it acquired previous year for around $12.4 billion.
The person, who refused to be identified as the details haven’t been released, announced that the majority of the latest round of layoffs will occur outside the United States.
Google decided in December to sell the Motorola Home business to Arris Group, Inc (NASDAQ:ARRS) for $2.35 billion. Shares of the company hiked 18% current year after lifting 9.5% in 2012.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Microsoft Corporation (NASDAQ:MSFT) fell -0.50% to settle at $28.00, Baidu.com, Inc. (ADR) (NASDAQ:BIDU) moved down -1.33% to end at $89.22 while Yandex NV (NASDAQ:YNDX) jumped +2.05% to finish at $24.92 on Friday.
Google Inc (NASDAQ:GOOG) last session’s volume of 2.91 million shares was surprisingly higher than its average volume of 2.42 million shares. The stock after opening at $834.50 hit high price of $834.92 and then closed at $831.52 by scoring -20.13%.
The liquidity measure in recent quarter results of the company was recorded 4.22 as current ratio and on the other side the debt to equity ratio was 0.08 and long-term debt to equity ratio remained at 0.04. The Company had total cash of $48.09 billion at hand and a book value per share as $217.33 in the most recent quarter.
The stock’s price volatility was 1.49% for a week and 1.39% for a month as well as price volatility’s Average True Range for 14 days was 12.35 and its beta remained at 1.01.
GOOG generated revenue of $50.18 billion in the previous twelve months and earned $10.79 billion. The Company showed a positive 21.50% in the net profit margin as well as in its operating margin which remained at 25.43%. Company’s annual sales growth for the past five years was 24.77%.
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