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Google (NASDAQ:
GOOG) has just released their financial information for the third quarter of 2009. Google's stock is down around 1% on the day thus far, but early data shows a jump in the stock price right after the release of the financial data.
In the words of Google's CEO Eric Schmidt:
Quote:
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"Google had a strong quarter--we saw 7% year-over-year revenue growth despite the tough economic conditions," said Eric Schmidt, CEO of Google. "While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the recession is behind us and now feel confident about investing heavily in our future."
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Selected financial highlights including:
- Revenue of $5.94 billion, a 7% increase;
- International revenue represented 53% of total Google revenue;
- Average cost per click declined 6%;
- Operating income of $2.07 billion, from $1.65 billion in 2008;
- Net income of $1.64 billion, from $1.29 in 2008;
- Google has cash and equivalents of over 22 billion dollars.
Google Investor Relations - Google Announces Third Quarter 2009 Financial Results