Google (GOOG) came out today with phenomenal returns and their stock surged 18% from pre-opening trading. The thinking was that online ad spending budgets would be cut based on financial services dependency.
Additionally, most people thought Google would guide down based on Comscore (SCOR) data that had convinced people that Q1 click data was disastrous. Comscore had tipped paid-click growth declining to 2%. In reality, U.S. paid clicks fell to 9%.
Seeking Alpha writer Paul Kedrosky had the opportunity to speak to a Comscore analyst who asked for leniency, after all it was “directionally correct”. Paul goes on to note, “directionally correct” is a joke, like getting busted for speeding in a school zone, and saying you might be over the limit, but at you had slowed down and were “directionally correct”.
