Proving not only Apple can do it...
Ok, we have ”more” financial results (seriously, someone release some products already!?!) but hey, they are positive…
Proving that Apple isn’t the only company capable of withstanding a recession (yep, it’s official now) is Google which has turned in some pretty encouraging figures of its own.
For Q4 the search giant reported huge revenues of $5.7bn for the three months ending 31 December, an increase of 18 per cent on the same period in 2007 and a three per cent lift on Q3. Against this however was net income which dropped a whole 68 per cent to $382m from $1.2bn 12 months ago. That said, this figure includes a $1.09bn write down in asset impairment charges related primarily to investments in AOL and Clearwire so they aren’t as troublesome as you might think.
On top of this Google is looking very solid with no debt and a hefty $15.85bn in the bank. There is also no talk of reductions to its 20,222 global full time employees. In fact Google is going a step further trying to entice its staff to stick with the company by giving them stock options – something which will cost the company another $460m.
All in all then, really rather promising but then again with this evil banker made recession of ours you’d expect Google to do well. After all the open source nature of Android makes it a more affordable platform for handset makers and many of its services are free via ad support and who doesn’t like free…?