Wednesday, August 18, 2004
Google Lowers Offering Range
Google has lowered the company's estimated offering price, down from an earlier $135 a share, to between $85.00 and $95.00 a share, as it has concluded the unusual bidding process on its IPO shares. It also released its quarterly results ending June 30, and reported earnings of $79M on revenues of $700.2M. The company is expected to sell its stock any day now, as it works through the final hurdles in paperwork with the SEC.