Agog Over Google
- $5.48 billion in revenue
- $2.17 billion, or $7.64 per share excluding one-time charges, in profits
- 65+ percent of all searches in the U.S.
- Android now the most popular operating system for new smartphones in the U.S.
- 1,500 employees added the latest quarter, upping total to 23,331
But wait, do I spot a doubter out there amongst the crowded field of slavish admirers and techno-sycophants? Henry Blodget, who once made a name for himself as a Merrill Lynch analyst by hyping dot-coms then getting barred from the securities industry for doing so, now earns his living as a commentator with an attitude of “not-so-fast.” Witness his analysis of the Google quarterly results today for Business Insider:
Google had a very strong quarter, and the company is in an unbelievably strong financial position. The core search business is healthy, and investors are right to be jazzed about that.
But what got people REALLY jazzed was the disclosure that Google is now doing $2.5 billion of “non-text” revenue and $1 billion of mobile revenue.
The message: Google’s not a one-trick pony anymore!
Don’t fall for this one: Google’s still very much a one-trick pony.
He then goes on to dissect yesterday’s report, concluding that search-related dollars still account for the lion’s share of Google’s revenue. Blodget concludes that “Google’s non-text ad business, including YouTube, likely contributes less than 5% of Google’s profit.”
On the other hand, he says, “the good news is that its one trick–search–is one of the most amazing tricks anyone has ever seen.”
Plus, you ever meet a Google employee? To me they always appear ludicrously content, like they somehow sat out the American experience 2001-present. I’ve never been to the Google campus, but I imagine it as a land filled with golden keyboards, celestial music, and stock options-filled troughs.
Not so easy to hitch your wagon to that star, though. Check out this post I wrote in my last job: “Google job interview cheat sheet.” Scanning some of the insanely hard interview questions, I wrote that I’d probably do better taking the California Bar Exam cold…
Category: Business and Finance