Google's fourth-quarter profit nears $2 billion

Google revved up its Internet-advertising sales in the fourth quarter and approached $2 billion in quarterly profit for the first time, the strongest sign yet that the Internet search leader has shaken off the recession's doldrums.

The profit announced Thursday topped analyst estimates, but revenue only matched forecasts. Investors were evidently hoping that Google's revenue would grow even faster, and the company's stock fell more than 4 percent in after-hours trading.

Google made a profit of $1.97 billion, or $6.13 per share, in the final three months of 2009, up sharply from $382.4 million in the comparable period in 2008. Profit was deflated in the 2008 quarter by charges reflecting the eroding value of some investments.

Read Full Article from Washington Post

- Posted: 2010-01-22 10:20:27

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