Google records top fourth-quarter profits

Posted on Wednesday, February 02 2005 @ 13:44 CET by Thomas De Maesschalck
Search engine king Google recorded a very profitable fourth quarter. The companies advertising revenues grew strongly, making a sales total of more than $1.03 billion.

The companies fourth-quarter income rose to $204.1 million in the fourth quarter, compared to only $27.3 million a year earlier.
``The numbers were just excellent,'' John Tinker, an analyst at ThinkEquity Partners in New York, said in an interview yesterday. ``Everyone was wondering with the IPO whether they would take their eye of the ball. Obviously they haven't.'' Tinker rates the shares ``buy'' and said he will significantly raise his $200 price target this morning.

Higher prices for advertising linked to search results helped Google generate increased profits. The company also kept a bigger slice of revenue from ads it distributes to other Internet sites.
More details at Bloomberg

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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