Amidst the ongoing economic and financial turmoil and beating industry analysts’ predictions and forecasts, “miraculously” Google still managed to pose some considerable growth as reported in their 3Q Financial Report. Eric Schmidt sums it up by saying:
“We had a good third quarter with strong traffic and revenue growth across all of our major geographies thanks to the underlying strength of our core search and ads business. The measurability and ROI of search-based advertising remain key assets for Google,”
Mr. Schmidt also said that the company will continue to manage Google for the long term, improve search ads and invest in future growth areas such as enterprise, mobile and display despite the worldwide economic downturn.
Google managed to beat its own 3Q estimates with the following key highlights of their financial report.
- $5.4 billion total revenue with $1.3 billion posted as company profit. This is a 31% increase from the same period in 2007 and a 3% increase from 2Q of 2008
- Google site revenues of $3.67 billion posted a 37% increase from 3Q 2007 and 4% of 2Q 2008
- Adsense program gained a $1.68 billion revenue representing 30% of total revenues, equivalent to a 15% increase in the same period of 2007 and 1% from the 2nd Quarter.
I’m no financial analysts but I those figures are enough to convince us all that contrary to what analysts are predicting, Google has indeed did pretty well during the 3rd Quarter relative to their performance last quarter and the same quarter last year.
Now, Google is left with a couple of months more to fend off the remaining effect of the current economic crunch and to sustain its growth until the end of the year. And I’m not doubting that Google is capable of doing that.