Google sees record $1.6bn profit

TelegramSam · 10-16-2009, 03:04 AM

Google seem to be doing very well financially right now.

The following was on the BBC website this morning:

BBC NEWS | Business | Google sees record $1.6bn profit

Google has reported its highest quarterly profit,
suggesting that the internet advertising market
is bouncing back from the recession.

Google reported net profit of $1.64bn (£1bn) for the third quarter, a 27% increase on the same period a year ago.

Revenue for the three-month period came in at $4.38bn, which was well ahead of analysts' expectations of $1.29bn.

"The worst of the recession is clearly behind us," said Google chief executive Eric Schmidt.

"Because of what we have seen, we now have the confidence to be optimistic about our future."

Google's shares rose $16.44, or 3.1%, to $546.35 in extended trading.

The internet search engine has weathered the recession better than other advertising-dependent companies, and it was widely expected to be one of the first beneficiaries of an economic recovery.

"Google has no competition. Yahoo is withering on the vine and [Microsoft's] Bing is too tiny now," said Coin Gillis, senior analyst at Brigantine Advisors.

"They did great on every single metric. We think this is sustainable."

TomBond · 10-16-2009, 03:29 AM

Incredible in the circumstances. I wonder when their bubble will burst, it will at somepoint, everyone's does.......

madison_avenue · 10-16-2009, 03:40 AM

Tesco made $5bn, we're in the wrong business!

Danny Cutts · 10-16-2009, 06:50 AM

Man I need t change business models!

Danny

klinvie · 10-16-2009, 07:05 AM

Yea, be nice to make just a tiny fraction of that. Shows how much money there is to be made!

Michael Nguyen · 10-16-2009, 07:15 AM

easy peasy, just dominate the niche that people NEED

10-16-2009, 03:04 AM	#1
TelegramSam Battle Hardened Warrior Join Date: Apr 2009 Location: USA/UK Posts: 690 Thanks: 44 Thanked 166 Times in 89 Posts	Google sees record $1.6bn profit Google seem to be doing very well financially right now. The following was on the BBC website this morning: BBC NEWS \| Business \| Google sees record $1.6bn profit Google has reported its highest quarterly profit, suggesting that the internet advertising market is bouncing back from the recession. Google reported net profit of $1.64bn (£1bn) for the third quarter, a 27% increase on the same period a year ago. Revenue for the three-month period came in at $4.38bn, which was well ahead of analysts' expectations of $1.29bn. "The worst of the recession is clearly behind us," said Google chief executive Eric Schmidt. "Because of what we have seen, we now have the confidence to be optimistic about our future." Google's shares rose $16.44, or 3.1%, to $546.35 in extended trading. The internet search engine has weathered the recession better than other advertising-dependent companies, and it was widely expected to be one of the first beneficiaries of an economic recovery. "Google has no competition. Yahoo is withering on the vine and [Microsoft's] Bing is too tiny now," said Coin Gillis, senior analyst at Brigantine Advisors. "They did great on every single metric. We think this is sustainable."

10-16-2009, 03:29 AM	#2
TomBond HyperActive Warrior Join Date: Mar 2009 Location: Watford, England Posts: 268 Thanks: 4 Thanked 11 Times in 9 Posts	Re: Google sees record $1.6bn profit Incredible in the circumstances. I wonder when their bubble will burst, it will at somepoint, everyone's does.......
	The name is Bond.......Tom Bond

10-16-2009, 03:40 AM	#3
madison_avenue Advanced Warrior War Room Member Join Date: Mar 2008 Location: London, United Kingdom. Posts: 902 Thanks: 675 Thanked 89 Times in 79 Posts	Re: Google sees record $1.6bn profit Tesco made $5bn, we're in the wrong business!

10-16-2009, 06:50 AM	#4
Danny Cutts SEO IS EASY... War Room Member Join Date: Jan 2006 Location: Middleton On Sea, United Kingdom. Posts: 1,699 Thanks: 210 Thanked 115 Times in 82 Posts Social Networking Contact Info	Re: Google sees record $1.6bn profit Man I need t change business models! Danny
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10-16-2009, 07:05 AM	#5
klinvie Active Warrior Join Date: Jun 2009 Posts: 61 Thanks: 19 Thanked 3 Times in 3 Posts	Re: Google sees record $1.6bn profit Yea, be nice to make just a tiny fraction of that. Shows how much money there is to be made!
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10-16-2009, 07:15 AM	#6
Michael Nguyen Senior Warrior Member War Room Member Join Date: Jan 2009 Location: London Posts: 1,029 Thanks: 60 Thanked 147 Times in 103 Posts	Re: Google sees record $1.6bn profit easy peasy, just dominate the niche that people NEED
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