February 1, 2007 at 16:38Google tripled profits in Q4 2006
Google’s net profit nearly tripled in the fourth quarter of 2006, at $ 1.03 billion ($ 3.29 per share). A year earlier, the figure was $ 372 million ($ 1.22 per share). Google revenue in the reporting period grew by 67% to $ 3.21 billion year on year, exceeding the expectations of analysts who had forecast growth at 64% (3.14 billion).
The company announced its financial results on January 31. But they did not impress investors, because they did not demonstrate a “breakthrough”, as last year, and Google shares fell 3.5% after the release of the report, reports Reuters . Eric Schmidt, Executive Director of the company, explained that the results of recent quarters are directly related to major investment projects of Google. He noted that the company intends to invest large-scale and further.
Google’s net profit for the whole of 2006 more than doubled, amounting to $ 3.077 billion with revenue of $ 10, 605 billion (72.7% growth). Edition of USA Today reports that the entire company is currently estimated at $ 153.5 billion, which is four times higher than the estimated cost of the rival Yahoo.
The company announced its financial results on January 31. But they did not impress investors, because they did not demonstrate a “breakthrough”, as last year, and Google shares fell 3.5% after the release of the report, reports Reuters . Eric Schmidt, Executive Director of the company, explained that the results of recent quarters are directly related to major investment projects of Google. He noted that the company intends to invest large-scale and further.
Google’s net profit for the whole of 2006 more than doubled, amounting to $ 3.077 billion with revenue of $ 10, 605 billion (72.7% growth). Edition of USA Today reports that the entire company is currently estimated at $ 153.5 billion, which is four times higher than the estimated cost of the rival Yahoo.