Skip to main content

Google profits beat expectations

Internet giant Google has reported a 37% rise in first-quarter net profit, beating analysts' expectations.Profit for the three months to March came in at $1.96bn (£1.26bn) compared with the $1.42bn it made a year ago.Revenue climbed 23% to $6.78bn, helped by an increase in online spending by advertisers.
"Going forward, we remain committed to heavy investment in innovation," Google chief financial officer Patrick Pichette said. 

He added that the investment would both "spur future growth in our core and emerging businesses as well as to help build the future of the open web".
Google also said it had taken on nearly 800 employees in the quarter, its biggest increase in staff since the first quarter of 2008.
Its global headcount now stands at 20,621.
'Solid quarter'
The amount of money the company made from pay-per-click online advertising rose 15% from the same quarter last year, as the internet advertising market continues its recovery from the recession.
"They had a very solid quarter, which we expected," commented Laxmi Poruri, analyst at Primary Global Research.
"Search advertising bounced back strongly relative to other forms of media."
Despite the results coming in ahead of forecasts, Google shares fell 4.6% to $568 in after-hours trading.
"The stock may be reacting to uncertainty going forward in terms of currency fluctuations overseas and investors seeking more clarity on China," Ms Poruri said.
Last month Google decided to stop filtering results from its search service in China, redirecting all its mainland China customers to an uncensored Hong Kong-based site instead.
The Chinese government responded angrily to the move, saying it was in violation of a written promise that the company would abide by China's laws requiring it to filter results.
Google dominates the search engine market. It has about a 65% share of the US market and about 90% in Europe.
But it is a distant number two in the Chinese market, which is dominated by Baidu.

Popular posts from this blog

AmazinG KnittinG Art

Hamburg Travel Guide

HAMBURG is the second largest city in Germany, it formed with Lübeck, Bremen and Rostock and other European ports the medieval Hanseatic League. Hamburg is a city-state, being as far as possible independent of other states that existed and exist in Germany. However, during the centuries, Hamburg has always been an international city, not only because of its position in international trade, but also in political dimensions. The city is known as one of the most important harbours in Europe and the world, and it is the greenest city in Germany: 13 % of the city are park and greenland, 23 % protected countryside and 6% nature reserves. Nevertheless, two thirds of the city are occupied by parks, lakes or tree-lined canals, giving this huge harbour city a refreshal rural feel. Culturally, Hamburg is said to have more in common with its trading partners and neighbors in the Low Countries, Denmark and even England, than it does with southern Germany. In Hamburg, there are more tha...

Can seaweed help solve the world's plastic crisis?

  After you finish your fries, eat the ketchup packet. When you add your pasta to boiling water, toss the bag into the pot, too. If these instructions sound confusing to you, it's only because you haven't yet heard of Notpla, a London-based startup company that is designing a seaweed-based replacement for single-use plastic packaging. Founded in 2014, the company closed a £10 million ($13.5 million) Series A financing round last month, led by the VC firm Horizons Ventures, to scale and further develop its product line. Notpla's products are meant to be composted or dissolved after use -- though some are edible, too. Current offerings include sachets for condiments, water and even alcohol; a film wrap for products in your pantry or bathroom, like coffee or toilet paper; and takeaway boxes that replace plastic-based coating with seaweed lining to make them fully biodegradable. The Ooho can replace condiment packets and other single-serve liquids, while the seaweed-lined takea...