Tech ETFs Holding Their Breath For Google Earnings Report Tomorrow

April 16, 2008 at 3:00 pm by Tom Lydon

Investors, technology exchange traded fund (ETF) investors and computer junkies alike are anticipating the first quarter earnings from Google (GOOG).

The numbers are due out tomorrow.

Wendy Tanaka for Forbes reports that the number of clicks on ads hosted by Google have deteriorated since January. Is it the sluggish economy, as some analysts claim, or is it the disappointing growth of last quarter, which disappointed many?

How will tech stocks and ETFs react? iShares Dow Jones U.S. Technology (IYW) has 5.4% given to Google, and Technology Select Sector SPDR (XLK) holds 5% of the internet company. Declining clicks and missed earnings have caused analysts to lower expectations 12 cents a share on average. Analysts surveyed by Thomson Financial estimate that Google will report first-quarter earnings of $4.52 a share.

Other tech earnings reports coming soon are Yahoo (YHOO), which expected to report earnings of 90 cents per share on April 22. Microsoft (MSFT) will give numers on April 24, and is expected to report earnings of 44 cents per share.