Tales of economic woe are apparently not affecting Google, which posted better-than-expected fourth quarter results Thursday.
Exact stats: First-quarter net income rose to $1.31 billion, or $4.12 per diluted share, from $1 billion, or $3.18 per share, a year earlier.Gross revenue rose 42 percent to $5.19 billion, just ahead of Wall Street targets. By contrast, Google's revenue grew at a 63 percent rate in the same quarter a year ago. International revenue accounted for 51 percent of the total, surpassing U.S. revenue for the first time and powering the company's results.
This could help Google in its effort to thwart Microsoft's Yahoo! takeover efforts.
"This signals that the online advertising market is still healthy, which should help Yahoo get a better price for its company if it does decide to sell to Microsoft," Peter Dunay, chief investment strategist at broker-dealer Meridian Equity Partners, told Reuters.
It was the usual financial shop talk on the earnings call, thought CEO Eric Schmidt talked Apps and Sergey touched on the company's failed 700 MHz efforts.
Eric Schmidt, Google CEO
In regards to Google Apps, "we are beginning to have all the pieces now in place." The Salesforce deal "allows us to integrate for enterprise customers."
"By doing these partnerships and investing in new application models, we think people will spend more and more on time on the Internet and they'll be able to .... share documents, calendars [and more] in a way that has not been possible before."
CFO George Reyes and co-founder Sergey Brin also weighed in ...
appscout973:http://www.appscout.com/2008/04/shocker_google_doing_well_earning_lots_of_money.php
Sergey Brin, Google co-founder
700 MHz auction: "I know we did not come back with any spectrum wins ...