Google announced an increase in both profit and revenue today – showing a 26% jump in profits – showing that the advertising networks (such as our own Viral Ad Network) have the potential to not only weather the current economy, but grow within it.
The fact that Google’s stock rose 8% on the news may also be a sign that the markets have room to recover – since even with reduced inter-bank lending there is obviously enough liquidity in the markets to make the most of a clear opportunity.
Not that Google is immune to the climate – they have reduced their hiring, only hiring 500 employees in the last quarter (according to news in about 5 minutes ago) – a dramatic drop (not like us – we’re growing, and looking for python programmers in Bristol among many other careers)
Tim W
Tags: Advertising, financial, markets, news
