Google, leading provider of search and internet technologies has just released their financial information for the third quarter of 2009. Google’s stock, GOOG, is down around 1% on the day thus far, but early data shows a jump in the stock price right after the release of the financial data.
In the words of Eric Schmidt, Google’s CEO: “Google had a strong quarter–we saw 7% year-over-year revenue growth despite the tough economic conditions. While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us and now feel confident about investing heavily in our future.”
Selected financial highlights include:
- Revenue of $5.94 billion, a 7% increase YoY
- International revenue represented 53% of total Google revenue
- Average cost per click declined 6%
- Operating income of $2.07 billion, from $1.65 billion in 2008
- Net income of $1.64 billion, from $1.29 in 2008
- Google has cash and equivalents of over 22 billion dollars
These are strong numbers, on a year over year basis. Investors that may have been skittish before, perhaps doubting the resiliency of Google in the recession can now relax, Google continues full steam ahead. There is an audio webcast with investors today, at 1:30 PST, or in 15 minutes from the posting of this piece. You can find that here.
Here is a more detailed view of Google’s quarter, as quoted from their press release:
Q3 Financial Summary
Read next: Die Google Wave Invites gehen an...