Posts Tagged ‘IBM’

Google post above expectation earnings

July 23, 2009

Google sees profits rise for second quarter by 19%. while IBM saw a rise of 12%.

Strong performances from two US technology giants have surprised many observers. Google Posted profits of $1.4 bn (£851m) or $4.66 a share, compared with $1.25bn in the equivalent quarter last year.

Revenues increased 3%  for the period at $5.52bn, with just over 50% coming form outside the US.

Google however said ” Paid Clicks fell from the previous quarter, even though they were 15% higher than the previous year.

What this seems to be reinforcing is that as trading conditions become tighter, more business owners are heading for Google as their advertising solution.

IBM put their growth down to better margin performance. Although revenues dropped by 13% as corporate spending fell, cost cuts and a move to more profitable businesses helped it beat earnings forecasts.

IBM also raised their full year forecast. It now expects earnings of $9.70 per share, up form $9.20.

US stocks have have a good week, Intel also posted above expection results.