Shares in Google fell $8.34 or 1.72% to 476.65 after the bell in New York in extended after-hours trading, although investors remained uncertain as to why the latest denial service had been put in place. Shares in Baidu, which has a 70% share in China to Google's 24%, were up 2%.
Earlier this month, Google appeared to have secured its place behind the "Great Firewall of China" after months of uncertainty when it struck a deal to allow it to continue it search business, stopping the automatic reroute to Hong Kong. User who tried to log in to Google.cn were automatically redirected to its Hong Kong page.
Analysts estimate China accounted for as little as $300m of Google's annual revenue of $24bn last year. Google's dominant position on the global search market was shown to have suffered slightly, with Strategy Analytics reporting that Google's market share fell to 69.7% in the three months to the end of June, from 71.1% in the prior quarter.
Source: http://bit.ly/9z7B3O
Earlier this month, Google appeared to have secured its place behind the "Great Firewall of China" after months of uncertainty when it struck a deal to allow it to continue it search business, stopping the automatic reroute to Hong Kong. User who tried to log in to Google.cn were automatically redirected to its Hong Kong page.
Analysts estimate China accounted for as little as $300m of Google's annual revenue of $24bn last year. Google's dominant position on the global search market was shown to have suffered slightly, with Strategy Analytics reporting that Google's market share fell to 69.7% in the three months to the end of June, from 71.1% in the prior quarter.
Source: http://bit.ly/9z7B3O