…Google is taking over the world.
Well, not exactly, but at least it seems that way. Google (GOOG) announced its recent quarter’s earnings yesterday and the results were as impressive as most believed they would be. While Yahoo has been struggling, eBay is floating along, and Microsoft is trying to figure out what their business model will be going forward, Google keeps rolling – with huge profits and the apparent drive to be the biggest and most relevant technology company in the world.
The raw numbers are impressive: Gross revenue rose 70% and quarterly profit was 92% higher than during the same period last year. Net income for the quarter was $733.4 million compared to $381.2 million in the same quarter last year.
And the craziest part: Google is still gaining momentum. Their market share in their core activity, search, has grown by 24% in the past year to a 50% overall market share.
I guess we’re all aware of this phenomenon. It seems like every time we turn around, there’s another new Google product or tool to try out. It wasn’t that long ago (Fall of 2004) that you had to be “invited” to get a Gmail account. Now Gmail is as ubiquitous as any webmail service in the world. In my day to day activities I use Google products no less than 10-20 times a day, and as many as 100. Think about it: search, Google Desktop Search, Google Maps, personalized Google homepage, Gmail, Google Talk, Google images. And now that they’ve bought youTube, they’re the biggest video player on the web too. That’s a whole lot of page views, chances to serve ads, and opportunities to explore new revenue models.
And while some people are scared that Google may be getting too big and may be getting too much control, I don’t buy it. The company has stayed true to its motto of “Don’t be evil” to this point. I’m a big fan of the Google, and will continue to be as long as the company continues to churn out quality products that enhance everyday life.
Posted: before work