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Google Shows Increased Profit Despite Economic Slowdown

Internet Marketing October 24th, 2008

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Google-Shows

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During a time that we are supposed to be watching stocks fall, and markets dry up, Google announced last week that profits rose 26%.  "Net income rose… $4.24 a share from the previous year at the same time."  reports MarketWatch.

What can be attributed to this positive economic growth?

Numerous things.  Namely;

Responsible growth;  Google cut spending in a number of areas including R & D and added 500 new employees; a conservative number compared to previous quarters.

Google Adwords; Even in a down market, companies are still going to be seeking new customers to improve their customer base.  Infact – maybe more.  Google Adwords is directly responsible for this development.

Continued dominance of Google as primary search engine. Comscore confirmed yet another gain compared to other search engines from June to July 2008.  Thats right, Google is still accounting for almost 62% of all searches.  Much higher then Yahoo! at 20.5% and Bing (who declined from June 2008) at 8.9%

Quote From Google CEO Eric Schmidt

"While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term."

Does King Eric sound worried to you?  This attitude confirms what we have been saying in earlier posts that search engines and internet marketing in general should not suffer as this is still the most effective way to reach markets that are seeking services.  It is simply too attractive to ignore.

Post By DJ (195 Posts)

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DJ has been a high profile Internet Marketer since 2001. He is the CEO of TechWyse and as a passionate member of the internet marketing industry is a key contributor on the 'Rise To The Top' Blog.

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