Google (NSDQ: GOOG) beat analysts expectations Thursday, posting an increase in net revenue of 4.5 percent and net income growth of 18 percent. The figures may back up reports from earlier this week that the search advertising market has largely stabilized, especially considering that the average cost-per-click was up compared to the first quarter. In a statement, Google CEO Eric Schmidt said, “These results highlight the enduring strength of our business model and our responsible efforts to manage expenses in a way that puts us in a good position for the economic upturn, when it occurs.” Nevertheless, Google’s revenue growth continues to slow. Last quarter, Google posted a 10 percent increase in net revenue.
|2Q 2008||2Q 2009||Estimate|
—Cost-per-click: Average cost per click was down 13 percent compared to a year ago, but up 5 percent from the first quarter.
—Google site revenues: Revenues at Google-owned sites increased 3 percent compared to a year ago.
—Networks revenues: Revenues generated via Google’s AdSense program was up 2 percent.
—International Revenues: Revenues outside the United States increased to 53 percent of Google’s total revenue, continuing a long-term trend. Revenues in the United Kingdom were $715 million.
—Capital expenditures: Google’s capital expenditures amounted to only $139 million during the quarter, down from an already historically low $263 million during the first quarter of the year.
—Employment: For the second quarter in a row, Google’s total employment dropped. The company said it had 19,786 employees as of June 30, down from 20,164 at the end of March. The company’s announcement earlier this year that it would layoff 200 sales and marketing employees took effect during the quarter.
By Joseph Tartakoff
Right Rail - Video Promo - Listing
Right Rail - Video Promo - Listing
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At Colonial Williamsburg, getting the period details just right is a mission for furniture conservator Leroy Graves. Over the past three decades he has revolutionized how museums preserve and protect upholstered antiques, despite this son of sharecroppers having had virtually no formal education. A detective of sorts when it comes to repairing and refitting antiques, Graves' work is featured in an ongoing exhibition called "Upholstery CSI." Martha Teichner reports.
Producer Irwin Winkler on Scorsese, Stallone
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In 1968 editor Clay Felker, a Midwesterner whose nose was pressed against the windows of the rich and famous in New York City, and Milton Glaser, a Jewish, Bronx-born art director, launched New York, a national magazine with the sensibility of its namesake city – energetic, ambitious, and full of attitude. The winner of 48 National Magazine Awards, it's outlasted dozens of rival publications, in part through its successful spinoff websites, including Intelligencer, The Cut, and Vulture. "Sunday Morning" contributor (and New York online writer) David Pogue talks with Glaser, former editor-in-chief Adam Moss, and new editor-in-chief David Haskell about New York's special brand of journalism.
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