{"id":89,"date":"2007-04-20T14:24:43","date_gmt":"2007-04-20T14:24:43","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/uncategorized\/google-profits-continue-to-rise\/"},"modified":"2007-04-20T14:24:43","modified_gmt":"2007-04-20T14:24:43","slug":"google-profits-continue-to-rise","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/04\/20\/google-profits-continue-to-rise\/","title":{"rendered":"Google Profits continue to rise"},"content":{"rendered":"

Internet search engine Google has seen quarterly profits soar by a massive 69%, beating expectations, boosted by strong advertising revenue.<\/span><\/strong> <\/span><\/p>\n

Net income climbed to $1bn (\u00c2\u00a3499m) in the first three months of 2007, up from $592m on a year earlier. <\/span><\/p>\n

Google’s market share has grown and recently it sealed a $3.1bn deal with web advertising network Doubleclick. <\/span><\/p>\n

Google’s results contrast sharply with Yahoo, whose sales fell 11% in the first three months of this year. <\/span><\/p>\n

Yahoo’s net profit fell to $142m (\u00c2\u00a371m) for the three months to March 31, compared with $160m a year earlier. <\/span><\/p>\n

Martin Pykkonen, an analyst with Global Crown said: “Like last quarter, Google didn’t crush the quarter but the street is getting used to that. And the company is showing good gains versus Yahoo.” <\/span><\/p>\n

‘Impressive’<\/span><\/strong> <\/span><\/p>\n

Google has gone from strength to strength since it listed in August 2004, defying expectations. <\/span><\/p>\n

The Doubleclick cash buyout deal was the biggest in Google’s history, allowing it to increase its dominance on the internet advertising market – its main source of income. <\/span><\/p>\n

And last year Google paid $1.65bn for video sharing website YouTube. <\/span><\/p>\n

In response to the latest figures, Rick Meckler, president with Libertyview Capital Management said: “The number as always is very impressive.” <\/span><\/p>\n

Even though the firm’s shares have fallen since the previous earnings were released, its market value has reached close to $150bn. <\/span><\/p>\n

Mr Meckler said: “Their gains have extended beyond the point where most people thought was possible and where they hinted would be possible a year or two ago when they said growth can’t go on forever. <\/span><\/p>\n

“For now it’s still growing at a phenomenally healthy pace.” <\/span><\/p>\n

Google shares were 3% higher in after-hours trade. <\/span><\/p>\n

Profit was $3.68 per share compared with $2.29 per share a year before.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Internet search engine Google has seen quarterly profits soar by a massive 69%, beating expectations, boosted by strong advertising revenue.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[9,48],"tags":[],"class_list":["post-89","post","type-post","status-publish","format-standard","hentry","category-companies","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/89","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=89"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/89\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=89"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=89"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=89"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}