The number of acquisitions Google announced in the past months provides a good clue to this. Surely, without a boost in profits, Google wouldn’t boldly declare a shopping spree.
I remember how shocked I was upon hearing Google’s 2008 profits; $21.7 billion in revenue and $4.3 billion in net profit.
According to the latest financial report, 2009 was (again) nothing but a spectacular year. Revenue and profits were at all time high of $23.7 billion and $6.5 billion respectively. That was a good 50% jump from its 2008 net profits.
From CEO Eric Schmidt:
“Given that the global economy is still in the early days of recovery, this was an extraordinary end to the year. Our performance in 2009 underscored the strength of our management team, the resilience of our business model and the pace of innovation within our product and engineering teams, which continued unabated throughout the downturn. As we enter 2010, we remain hugely optimistic about the Internet and are continuing to invest heavily in technological innovation for the benefit not only of our users and customers, but also the wider web.”
With rising investor expectations and an increasingly diverse portfolio, I wonder if Google can keep up with its current momentum of “googlifying” the world.
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