Google has long shunned the orthodoxy and that included forgoing the typical Wall Street analyst briefings–until now.
New CFO Ruth Porat, who joined Google from Morgan Stanley, started offering analysts 15- to 30-minute briefings on the Internet giant’s business earlier this month, the Wall Street Journal reported. The move puts Google (GOOG) in league with other major publicly-traded companies.
The new calls are referred to as “Office Hours” and give analysts covering the company additional insight into how the company’s business will fare over coming weeks and months. It’s part of Porat’s overall initiative to be more transparent with investors. The WSJ reported:
In the first round of calls, Google highlighted several previously disclosed facts and trends that suggested expenses may rise in the third quarter: seasonal hiring of recent college grads, the start of holiday-season marketing and an uptick from unusually low legal expenses in the second quarter, according to the people.