Google Earnings Beat Expectations, Shares Climb

Many Wall Street analysts and Google watchers were anticipating that Google might “come down to Earth” with its Q3 earnings today, given the turmoil in the US economy. But in fact the company soundly beat expectations and posted very healthy revenues, driven by Google’s dominance of the only strong segment of online advertising — search.

Google reported $5.54 billion in revenue for Q3, which represented a 31 percent increase over the same period last year. Net income was more than $1.5 billion. Below are some highlights from the earnings conference call slide show.

International revenues exceeded US revenues slightly for the first time, pointing to the weakness in the US economy. And Google properties delivered twice as much growth (34 percent) as the Google network (15 percent). After Google released its earnings report, company shares climbed almost 7 percent in after-hours trading.

The question of whether Google can sustain growth in the quarters to come remains to be seen; Q4 and Q1 2009 promise to be much weaker. Yet, so far, search (and Google with it) has proven recession resistant, if not “recession proof.”

Related Topics: Channel: Industry | Google: Business Issues

Sponsored


About The Author: is a Contributing Editor at Search Engine Land. He writes a personal blog Screenwerk, about SoLoMo issues and connecting the dots between online and offline. He also posts at Internet2Go, which is focused on the mobile Internet. Follow him @gsterling.

Connect with the author via: Email | Twitter | Google+ | LinkedIn



SearchCap:

Get all the top search stories emailed daily!  

Share

Other ways to share:
 

Read before commenting! We welcome constructive comments and allow any that meet our common sense criteria. This means being respectful and polite to others. It means providing helpful information that contributes to a story or discussion. It means leaving links only that substantially add further to a discussion. Comments using foul language, being disrespectful to others or otherwise violating what we believe are common sense standards of discussion will be deleted. Comments may also be removed if they are posted from anonymous accounts. You can read more about our comments policy here.

Comments are closed.

Get Our News, Everywhere!

Daily Email:

Follow Search Engine Land on Twitter @sengineland Like Search Engine Land on Facebook Follow Search Engine Land on Google+ Get the Search Engine Land Feed Connect with Search Engine Land on LinkedIn Check out our Tumblr! See us on Pinterest

 
 

Click to watch SMX conference video

Join us at one of our SMX or MarTech events:

United States

Europe

Australia & China

Learn more about: SMX | MarTech


Free Daily Search News Recap!

SearchCap is a once-per-day newsletter update - sign up below and get the news delivered to you!

 


 

Search Engine Land Periodic Table of SEO Success Factors

Get Your Copy
Read The Full SEO Guide