Thursday, July 15, 2010

Google’s Net Income Rises 24% in Quarter - NYTimes.com

An interesting milestone day for Google, missing profit expectations

As Google expands into new businesses, it continues to face increasing competition from many directions.

“Investors are curious about what Google feels like in a world where Apple controls a big chunk of the mobile world, Facebook controls a big chunk of the social world, and Google and Amazon vie for control of the commercial world,” Mr. Rohan said.

Google’s ambitious hiring and spending on acquisitions cut into its profit margins, even though the investments may pay off over the long term, analysts said. The company added 1,184 employees during the quarter, mostly in engineering and sales, bringing the total to 21,805 employees.

Google’s Net Income Rises 24% in Quarter - NYTimes.com

Post a Comment