Amidst an ongoing fight with AT&T and FCC over blocking certain calls on its voice service, Google is on the right financial track. Bucking the ongoing economic downturn, the search engine provider reported that its Q3 09 earnings actually exceeded Wall Street predictions.
During the quarter, Google's net income rose to $1.64 billion, up from $1.29 billion from Q2 2008. What's more, company sales were up by 1 percent to $1.38 billion.
"Google had a strong quarter--we saw 7 percent year-over-year revenue growth despite the tough economic conditions," Google CEO Eric Schmidt said in statement. "While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us and now feel confident about investing heavily in our future."
To keep the revenue engine going, Google says it will not only ramp up its online ad revenue, but also be strategic in its 'one company a month' acquisition strategy. In addition, Google expects that its acquisition of YouTube to be a revenue generator.
- VON has this article
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