news
Google takes blow in profit margins, still beats Wall St
January 24, 2009
MarketingVOX
Yesterday Google reported deflated net income for 4Q08: a fall of 68% from the year prior. Revenue grew 28% to US$5.7 billion, however, beating Wall Street expectations.
Net income for the quarter ending December 31 was US$382 million, or US$1.21 per share, compared with $1.2 billion — $3.79 per share — last year. These included one-time charges of US$1.1 billion, accounting for the plummeting value of Google's investments in Clearwire, a wireless broadband provider, and AOL.
Barring that, and items like stock-based compensation, profit was up $5.10 per share, topping its US$3.79-per-share rate in 2007. (Analysts expected a report of US$4.96 per share.)
Read the full story on MarketingVOX
Posted on Jan 26, 2009 - 11:25 AM
0 comments:
Leave your comment
Only available to logged-in IAB Members.
