Google Posts Strong Q4 2009 Results

From DailyTech:
Google is the most widely used search engine in the U.S. and is one of the largest search engines in the world. The search giant has been doing well during the economic downturn, though it has undertaken cost cutting measures and reduced the number of workers employed at its locations around the world.

Google was expected to releases its Q4 2009 earnings yesterday and the expectation was that it would post higher than expected profits. Google's earnings were released on schedule and while some areas of the search giants business did post higher than expected revenues, some analysts were not happy with the results.

Shares of Google fell about 4% in trading after Google posted its Q4 results, despite increasing its revenue by 17% compared to the same quarter of 2008. Google's revenue for Q4 2009 was $6.67 billion.

Analyst Martin Pyykkonen said, "[Expectations] got higher as they [Google] came closer to reporting and they delivered fundamentally sound numbers, but did not deliver a blowout. I think the stock will recover. I don't think it will fall through the floor."

The ongoing fight between Google and the Chinese government has likely had an effect on the stock price as well. Google disclosed this month that an attack was carried out in China against its Chinese office that resulted in the theft of IP and source code. Google has since said that it would no longer censor search results in China whipping the Chinese government into an uproar. Google has said that it might have to leave the Chinese search market.

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