Google Shares Hit $600 On Display, Mobile Revenue |
| Wall Street Journal - Oct 15, 2010 |
Google Inc.'s (GOOG) share price hit $600 Friday for the first time since early January after reporting better-than-expected quarterly results and finally indicating progress in developing other significant revenue streams beyond its dominance in online-search advertising.
The Silicon Valley company eased Wall Street's concerns about slowing growth in its core business by revealing for the first time details about the financial performance of its display- and mobile-advertising segments, which indicated that those operations already total more than 10% of the company's annual revenue.
Jonathan Rosenberg, a Google senior vice president, said Thursday that revenue from selling display ads for sites across the Internet as well as its own YouTube video site is on pace to generate more than $2.5 billion in annual revenue. YouTube now gets two billion views per week that earn money.
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- Posted: 2010-10-15 23:09:11
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