Google Gives Back Most After Hours Gains; Worries on Q2?

Easy come, easy go.

Google (GOOG) shares, which at one point this afternoon traded as high as $412, more than $23 above the regular session close of $388.74, has now given most of that back. Or to think of it another way, while you were driving home, the stock dropped about $20.

What happened? Well, the stock had rallied on Q1 earnings, in particular better-than-expected performance at the EPS line, as margins increased, thanks to tighter cost controls. The market was looking kind of giddy there for a bit, but there were apparently a few things on the post-earnings conference call that left people feeling a bit more sober.

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