Piper Jaffray comments on Google (NASDAQ:GOOG) ahead of tonight's comScore data:
As a recap, comScore data for the month of January was tracking down 9% m/m. The Street is modeling for an 8% sequential increase in March quarter ad revenue. While Piper believes the second month of comScore data will suggest an improving trend in the quarter, they expect the data will likely continue to predict a slight revenue miss for Google. They believe the first two months of comScore data for the March quarter will suggest Google's revenue will be tracking flat to up five percent sequentially, which is below the Street's up 8% expectation
Notablecalls: Remember, Piper's Gene Munster is the most bullish analyst on GOOG. I expect his call regarding a possible rev miss to send the shares lower in the early going.
As a recap, comScore data for the month of January was tracking down 9% m/m. The Street is modeling for an 8% sequential increase in March quarter ad revenue. While Piper believes the second month of comScore data will suggest an improving trend in the quarter, they expect the data will likely continue to predict a slight revenue miss for Google. They believe the first two months of comScore data for the March quarter will suggest Google's revenue will be tracking flat to up five percent sequentially, which is below the Street's up 8% expectation
Notablecalls: Remember, Piper's Gene Munster is the most bullish analyst on GOOG. I expect his call regarding a possible rev miss to send the shares lower in the early going.
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