Google’s CFO: “It’s Been A Great Time For Us”
Patrick Pichette joined Google as its CFO on August 12, 2008, and since then, he’s seen the company through both good times (a stock price of $620 per share) and bad (try $262). So Google fans should find it comforting that Pichette, with his range of experience, has said the company’s doing quite well again.
Pichette spoke during the Morgan Stanley Technology, Media and Telecom Conference, and according to John Letzing, stated, "[T]he mood at Google kind of continues to be electric," which is certainly a positive sign. Not that he’d admit to low morale, but using the term "electric" says a lot.
The CFO then continued, "It’s true there is a recession out there, but for the broad data world, everything that’s the data space, there’s really no recession. It’s been a great time for us in the last 12 months, 18 months."
Pichette also shrugged off the idea that Google’s being anticompetitive, arguing that large companies are often scrutinized, and acknowledged that display ads, apps, and mobile have become increasingly important to the organization.
Here’s the only catch: investors may or may not be impressed by all this, considering that Google’s stock is down a little in after-hours trading at $532.30.