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6 commentsFriday, April 17, 2009

Google Survives Q1 Financial Report

Kinda sorta with flying colors (considering the circumstances)

Analysts and investors were ready for just about anything this afternoon, with predictions of what Google's first quarter would look like ranging from complete failure to yet another blow-'em-out-of-the-water success.  The real numbers landed somewhere in between, but - to most people's relief - rather more on positive side. 

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Google reported $4.07 billion in revenue ex-TAC.  Although it was widely expected that Google's first-ever quarterly decline would occur, this kept the decrease to just three percent.  On a year-over-year basis, meanwhile, a six percent increase occurred.

Then, in terms of earnings per share, the search giant also did all right.  Popular estimates were in the $4.90 to $4.95 range, and Google posted $5.16, better even than last quarter's $5.10.  Paid clicks were up three percent in the same period, too.

As for some other stuff, Google trimmed its number of fulltime employees by 58 between December and March.  And on a larger scale, it decreased operating expenses by $130 million.

Finally, there's one personnel change worth noting.  Omid Kordestani, who held the title "Senior Vice President, Global Sales & Business Development" will now be "Senior Advisor, Office of the CEO and Founders."  Nikesh Arora, who's worked for Google in Europe for over four years, will more or less take his place with the title "President, Global Sales Operations and Business Development."

All in all, this group of developments has put Google's stock up 1.47 percent in after-hours trading.

News Tags: Google, Financial
About the author:
Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.

Profits

Well that's encouraging! I am glad somebody is making money!

Competiton

With the strong performance by Google, even now, it occurs to me that they might not do as well in the absence (or diminished presence) of a good competitor like Yahoo! With MSN throwing in the towel on search - are we seeing the beginnings of too much of a good thing?

Too much Google - even though they are great - means fewer choices.

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