Compared with Microsoft, Google (GOOG -1.6%) is getting off lightly for its June quarter miss,...

|By:, SA News Editor

Compared with Microsoft, Google (GOOG -1.6%) is getting off lightly for its June quarter miss, as the sell-side argues the shortfall stems from near-term transitions - improving mobile monetization/conversions with the help of Enhanced Campaigns, enforcing stricter ad network policies - rather than long-term problems. "We've seen this before, and we're not concerned," says Jefferies (Buy) about the ad network slowdown." BMO (Market Perform) points out Enhanced Campaigns are lifting click-through rates and ROIs, particularly for "large chain businesses" such as retailers and restaurant chains. VCLK -4.1%. (Q2: I, II, III) (transcript)