Rosy revenues revealed in Google Q4 financials
Search engine Google remains buoyant with increased profits in the last quarter of 2008
Times may be tough in the financial world, but certain sectors are holding their own better than others. Google, for one, is currently basking in the glow of increased revenues. The good news comes as they release figures for the last quarter of 2008.
Indeed, search giants Google ploughed through valuations from Wall Street, which were set at $4.12 billion, or $4.96 per share. Actual Google profits came in at $4.22 billion or $5.10 per share.
Google’s revenue may be up for a variety of reasons. Enhancements have been made to Google in the last year – 350 search quality improvements were launched in 2008. Mobile search engine traffic also went up and peaked in December 2008.
Google chief executive Eric Schmidt’s statement from the release, said:
“Google performed well in the fourth quarter [of 2008], despite an increasingly difficult economic environment. Search query growth was strong, revenues were up in most verticals, and we successfully contained costs. It’s unclear how long the global downturn will last, but our focus remains on the long term, and we’ll continue to invest in Google’s core search and ads business as well as in strategic growth areas such as display, mobile, and enterprise.”
As many businesses across a range of sectors announce redundancies, search engine Google is also keen to emphasise recruitment. It took on 100 new employees in the last quarter of 2008.