Google disappoints the market despite the 35% growth in profits for quarter
Internet group Google has increased by 35% in its net profit for the second quarter, but proved less than expectations of investors and lower the company’s shares during the exchange trade outside the U.S.
The net profit for the period reached 1.25 billion dollars against 925 million dollars year earlier, while profit per share amounted to 4.63 dollars, below analysts’ expectations for 4.74 dollars in cash.
Total revenue, 97% of which are advertising are 5.37 billion dollars, or 39% more than those for the second quarter of 2007 Without costs used for traffic, ie Commissions on partner sites, revenue amounted to 3.9 billion dollars, slightly more than expected by the market 3.87 billion dollars.
Immediately after the announcement of the results of Google shares fell by almost 8% to 492 dollars.
The Executive Director of the company Eric Schmidt said in a message to the media that the group is facing “a difficult economic situation” but stresses that is marked strong growth of business abroad because of rising sound of traffic. In the second quarter activity outside the United States constitutes 52% of revenues compared to 48% year earlier.
During the reported period Google hired working almost 500 people, with the total of employees of full-time reaches 19 604.
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