Google Sees First Revenue Drop | Интернет-журнал "Корпоративные информационные системы"
In chilly ad economy, giant still comes through with earnings ahead of analysts' expectations.

Google Sees First Revenue Drop

In every recession there are companies that seem almost immune. Almost.

(NASDAQ: GOOG) today reported the first quarterly drop in revenue in the company's 10-year history, posting $5.51 billion in total revenues, off 3 percent from the mark of $5.7 billion the giant turned in the previous quarter.

Amid a frosty ad market, #39;s earnings topped analysts' already-lowered expectations, and CEO Eric Schmidt maintained that the company is well-positioned with its core business.

«had a good quarter given the depth of the recession — while revenues were down quarter over quarter, they grew 6 percent year over year, thanks to continued strong query growth,» Schmidt said in a statement. «These results underline both the resilience of our business model and the ongoing potential of the Web as users and advertisers shift online.»

« We're still basically in uncharted territory,» he said later on a conference call with analysts. «No company is recession proof. is absolutely feeling the impact.»

While growth has slowed considerably, #39;s balance sheet is still comparatively healthy. The company posted a quarterly profit of $1.42 billion, or $4.49 per share, a 9 percent increase from the same period the previous year.

posted non-GAAP earnings of $5.16 per share, ahead of the $4.93 analysts were looking for according to polling by Thomson Reuters.

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