Google, Capitalist Dilemmas And Corporate Purpose: What We Want From Business?
The first quarter of 2011 at Google was, in the words of CEO Larry Page, “tremendous.” Revenues rose 27% and income was up 17%. Google earned $7.04 per share for the quarter, up from $6.06 a year earlier. However, in after-hours trading following the announcement, Google’s stock price plummeted 5%. The tech giant was proceeding with its plan to hire 6,200 new workers over the course of the year in response to strong demand for Google product and to give a 10% raise to all its employees.
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