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Friday, 16 October 2009 08:31

Google profits are up

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Google's 3rd quarter profit was 27% higher than the same quarter in 2008.  Is this the end of the GFC?

Essentially all of Google's income is derived from advertising revenue.  This means that if profit is up, either they have dramatically slashed costs or more people are advertising.  Google's overnight financial statement showed 3rd quarter net income was $1.64B compared with $1.29B a year ago.  Revenue climbed 7% from $5.54B to $5.94B.  These numbers suggests both cost cutting and increased advertising sales are true.

"The worst of the recession is clearly behind us," Eric Schmidt, Google’s CEO said in a conference call.  "We now have the confidence to be optimistic about our future."

Total worldwide employee count dropped slightly between 2nd and 3rd quarters this year, but Schmidt indicated that this was likely to increase again with the upturn.

Google's share price dropped around 1% during the day but increased as much as 3% in after-hours trading.

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David Heath

David Heath has had a long and varied career in the IT industry having worked as a Pre-sales Network Engineer (remember Novell NetWare?), General Manager of IT&T for the TV Shopping Network, as a Technical manager in the Biometrics industry, and as a Technical Trainer and Instructional Designer in the industrial control sector. In all aspects, security has been a driving focus. Throughout his career, David has sought to inform and educate people and has done that through his writings and in more formal educational environments.

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