While Microsoft, Yahoo and AOL dance with each other even as they stagger along, Google has only the economy to contend with, turning in a profitable financial quarter in what Google CEO Eric Schmidt called “a more challenging economic environment.”
Google reported revenues of $5.37 billion for the quarter ended June 30, an increase of 39 percent compared with the second quarter of 2007 and an increase of 3 percent compared to the first quarter of 2008.
That wasn’t enough quarter-to-quarter growth for Wall Street, though. Google missed Wall Street estimates and was punished accordingly with a drop in its stock price.
Q2 net was $1.58 billion, up a bit from income of $1.55 billion in the immediately prior Q1, but off from the $1.85 billion the company made in the second quarter of 2007.
Google’s AdSense partner program continues to thrive, growing both year-over-year and sequentially.
More Broadband Direct:
• CableLabs qualifies Motorola’s, Cisco’s SDV tuners
• Verizon’s stymied on retention marketing program
• SK Telecom denies interest in bid for Sprint Nextel
• Verizon, NBCU bringing Olympics coverage to Verizon subs
• Local regulators chime in on broadband policy
• Comcast Interactive Media hires Gilford as SVP
• Elemental Technologies secures $7.1M in venture capital
• Schmidt: Google facing ‘more challenging economic environment’