Google’s Quarterly Profit Drops for the First Time

The recession even impacted the search engine giant Google with less profits. Google released its quarterly profit results, which fell for the first time since it raised public offerings in 2004.

Google had revenues of $382 million in the last quarter of 2008, which was a 68 percent drop from the last quarter in 2007. Google’s income per share was $1.21 in the last quarter of 2008, which was far less than 3.79 dollars per share in 2007.

But these results were enough for Goggle to beat Wall Streets expectations. Wall Street estimated that Google might have profits of $4.95 per share in 2008. But Google exceeded these expectations with its profits of $5.10 a share.

Revenues were solid with an 18 percent increase from the same quarter of 2007. Google had revenues of 5.7 billion dollars for the recently ended quarter.

After subtracting the commissions paid to the ad partners, the revenues of Google are still reported to be $4.22 billion.

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