No financial crisis for Google

Sat 18 October 2008 20:05, Editors

No financial crisis for Google

Over the third quarter of this year Google has reported an increase in profit of 26 percent compared with last year, according to dutch news agency ANP.

The net profit amounted to 1.35 billion dollars. The turnover of Google rose at an annual 31 percent to 5.5 billion dollars. The results were better than was previously estimated.
 
In explanation to the figures Google-CEO Eric Schmidt said to be optimistic about the future of the search engine giant. At the same time he said to be "very realistic about the macro economic environment”. "We are all in unexplored area."

According to most analysts, the business model of Google is resistant to the economic downturn which is expected to be imminent.

The ads that Google sells are the best form of online advertising, analysts believe. "Even in the current market circumstances advertisers are looking for customers."


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