Google revenues come from ~90% ads. It's an ad company.
The company gives guidance, so the estimates are not pulled out of thin air. Google should know their ad business very well at this point.
People selling after an ad miss is medium/long term thinking. They could be wrong, but was the miss caused by a wider economic slowdown (see UPS earnings) or was it Google specific? Either way, it could be sign of Google slowing down or the economy as whole.
The company gives guidance, so the estimates are not pulled out of thin air. Google should know their ad business very well at this point.
People selling after an ad miss is medium/long term thinking. They could be wrong, but was the miss caused by a wider economic slowdown (see UPS earnings) or was it Google specific? Either way, it could be sign of Google slowing down or the economy as whole.