Google continue to taunt pretty much the rest of the globe by making a frankly unnecessary amount of cash, reporting fourth quarter revenues from 2009 of $6.67 billion (at this point I’d usually translate this into euro but I think it’s fairly safe to assume we all get it… they’re doing very well).
Anyway, this figure is up 17% on the same period in 2008 with the company’s profits from the last part of 2009 coming in a whopping 400% above the previous year at $1.97 billion. “This was a very strong quarter for Google, an extraordinary end to a roller-coaster year by any measure,” said Google Chief Executive, Eric Schmidt in a call with (presumably champagne-swilling) investors.
According to the LA Times, despite the gains, “the company’s numbers barely edged out most estimates from Wall Street analysts. The company’s stock price dropped nearly 5%, or $29, in after-hours trading”.
After a trying week when Chinese relations soured to an all time low, this is a timely boost for Google’s ego. The company’s total assets now top $40 billion, with $24.5 billion of that available as cash or short-term securities, or if they fancy it they could buy Ireland for the laugh.