Yesterday we posted a piece on the uncertain future of Yahoo, after the first quarterly result showed that the companys net income fell 11 percent compared to a year earlier.
Today, to rub extra salt into the wounds, main rival Google said first-quarter profit rose 69 percent as it increased advertising sales worldwide and took more market share from Yahoo, reports Jonathan Thaw at Bloomberg.com. Net income climbed to $1 billion, or $3.18 a share, from $592.3 million, or $1.95 a share, a year earlier, according to a statement from Google. The stock jumped in after-hours trading.
Owen Thomas, blogging the earnings conference call live at Business 2.0 Beta notes Google CEO Eric Schmidt as saying he’s “ecstatic” about the results but warns that the business will slow seasonally over summer.
Later during the call Google cofounder Sergey Brin was making a pitch about how Google cares about “making its partners successful,”. Owen Thomas describes it as “an obvious retort” to Yahoo CEO Terry Semel’s claims in yesterdays earnings call that Yahoo takes partnering seriously…
Whats in the protein drinks they serve at Google?? We want one to!
By John Furrier and Tina Magnergard Bjers