Google first-quarter profits up 8.9 percentApril 17th, 2009 - 4:24 am ICT by IANS
San Francisco, April 17 (DPA) Internet search powerhouse Google bucked the economic downturn in the first quarter, posting an 8.9-percent rise in profits as revenues climbed 6.2 percent.
The Silicon Valley-based online advertising giant earned $1.42 billion in the quarter, up from $1.31 billion in the same quarter a year ago.
Revenue rose 6.2 percent to $5.51 billion but marked a 3-percent drop from the fourth quarter - the first time that the internet search company saw a decline in revenue between two consecutive quarters.
“Google had a good quarter given the depth of the recession,” Google CEO Eric E. Schmidt said in a statement.
“These results underline both the resilience of our business model and the ongoing potential of the web as users and advertisers shift online. Going forward, our priority remains investing for the long term to drive future growth in our core and emerging businesses.”
The earnings report marked the first results of Google’s effort to trim costs by cutting 300 people from the workforce, closing projects that lacked promise and reducing some employee benefits.
- Google posts higher revenue than in 2009 - Jul 16, 2010
- Facebook plans to go public to raise $87bn - May 04, 2012
- Google to become top online ad seller in US by 2013 - Feb 23, 2012
- Google reports strong second-quarter earnings - Jul 20, 2012
- Microsoft reports first loss in 26 years - Jul 20, 2012
- American Online pitching itself as an Internet content firm - Aug 05, 2010
- Google says the worst is over - Oct 16, 2009
- Google Introduces New Image Search For Advertisers - Jul 21, 2010
- Yahoo cuts 2,000 jobs - Apr 05, 2012
- China's Internet advertising rakes in $2 bn in Q3 - Nov 04, 2011
- Google profit jumps 19 percent - Jul 17, 2009
- Google Inc. (GOOG): 2nd Quarter Earnings Up By 19% - Jul 17, 2009
- Google announces management changes - Jan 21, 2011
- Google cuts ties with Chinese advertisers - Jul 27, 2010
- BRIC revenues help push IBM profits - Apr 18, 2012
Tags: advertisers, business model, ceo, consecutive quarters, decline, dpa, e schmidt, earnings, economic downturn, employee benefits, first quarter, fourth quarter, google, internet search company, powerhouse, quarter profits, recession, resilience, silicon valley, workforce