Internet search giant, Google has posted its financial results for the last quarter of 2009 which, despite, the state of the economy, show strong growth.
"Google had a strong fourth quarter, with 17 per cent year over year revenue growth," bragged Google CEO Eric Schmidt. "Given that the global economy is still in the early days of recovery, this was an extraordinary end to the year. Our performance in 2009 underscored the strength of our management team, the resilience of our business model and the pace of innovation within our product and engineering teams, which continued unabated throughout the downturn."
Schmidt went on to say that he was "hugely optimistic" about the future of Google and the wider web in general, despite being involved in an ugly tussle with the Chinese government over web censorship and allegations of state-sponsored hacking.
The company reported $6.6 billion of revenue for the quarter ending December 21st 2009. That equates to $1.97 billion in earnings compared to $382 million in the same quarter last year.
Google's results weren't as good as analysts had expected, however, and its share price fell as by almost $34 to $549 in late trading last night. They're currently back up at close to $5838, although Obama's worthy assault on the banks has stockholders across the board in a right old tizz.