Web stats firm ComScore is publishing its February paid click data report after the market closes today, and ahead of the release, UBS analyst Benjamin Schachter is cutting his Google estimates.
“Nothing is broken,” Schachter says in a note today, but he thinks consensus estimates “don’t adequately reflect” decelerating growth in paid clicks — Google’s core advertising business.
Schachter suspects comScore’s data “will show a continuation of January’s worrisome trends.” But then tells investors not to make too much of said trends. Recall that January’s paid click data set off a storm last month, helping send Google (GOOG) shares to their year-lows.
Schachter cut his 2008 GOOG EPS estimate from $18.16 to $17.15 and his 2009 EPS estimate from $22.29 to $21.02.
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