General Motors is Bankrupt? Google is……
October 17, 2008
Being an internet marketer, I wasn’t too worry about this so called Financial Crisis. After a few week reading nothing but negative things on paper and tv, slowly I was made to believe that there will be a crisis out there.
This morning, after waking up at 10 am, ready to sip my coffee and read another sad story from General Motors and other big guys from Wall Street, I grabbed my blackberry first. And then….bam! My eyes are wide open…, and I haven’t even sip my coffee yet.
Google’s profit rises 26%..!! This is happening while other Wall Street company went bankrupt! The boys from Mountain View, California reported a strong increase in sales and a bigger profit than expected despite the current economic slump. These guys reported revenue of $5.54 billion in the quarter ended Sept. 30, an increase of 31% from $4.23 billion a year ago.
Not only that, Google posted sales of $4.04 billion, which is almost in line with the $4.06 billion in sales analysts polled by Thomson Reuters expected. Simply amazing…. Profit? in this time of the so called crisis?
I just keep looking at my blackberry, and forget all about my morning coffee. They also reported net income for the third quarter of $1.35 billion, up 26% from $1.07 billion a year ago.
“While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term, driving improvements to search and ads, while also investing in future growth areas such as enterprise, mobile, and display,” said Google chief executive Eric Schmidt in a statement.
Google also reported that AdSense advertising network grew 4% compared to the second quarter and rose 18% compared to the same period a year ago. Another wow! Then I started to sip my coffee which starting to get cold, but somehow it tastes better.
“As marketing budgets are squeezed, targeted measurable ads are becoming more valuable to advertisers, and as consumer budgets are squeezed, people use the web for comparison shopping to hunt for bargains online and in stores,” Google CEO said in a conference call to analysts.
Ahhh.. finally I sip my already cold coffee without cursing at the business news. There is another world out there, Google’s world and the world of Internet Marketing, which I am a part of, who are not suffering from this financial crisis. What a relief….






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