Google Profits Rise As Recession Fears Disappear

Google Inc., the company behind the Android mobile phone operating system, has announced that the company has recorded an increase of 38 percent in its net income and a rise of 23 percent in its revenue during the first quarter of 2010, thanks to the recovering economy after the recession.

The company, which will soon start offering Twitter search along with the traditional internet search, reported a net income of $1.86 billion as of March 31st 2010 while the revenue was pegged at $6.77 billion for the quarter.

Commenting on the exceptional growth report of the company, Google CFO said in a statement that “Going forward, we remain committed to heavy investment in innovation — both to spur future growth in our core and emerging businesses as well as to help build the future of the open web.”

The financial figures reported by the search engine giant indicate that the economy is certainly getting back on its feet with increased IT spending. The company has reported that the it had increased its global workforce by 800 employees, which now enhance its work strength to 20,621 full-time employees.

Our Comments

In related news, recent market research data hinted at a further rise in IT spending as the total global PC increased in the first quarter of 2010, citing Hewlett Packard as the market leader. However, a number of Far Eastern computer companies like Acer or Lenovo are rapidly catching up.

Related Links

Google’s profit, revenue soars in Q1

(The Hindu)

Google grows revenue 23 percent in Q1

(Business Week)

Google profit increase points to tech sector recovery

(Daily Mail)

Q1: Google Inc profit up 23 pc

(One India)