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article imageGoogle: The $200 Billion Gorilla

By Chris V. Thangham     Oct 19, 2007 in Business
Google announced its report yesterday showing higher earnings than expected and now Google has a hit an all time in stocks today. Its total value exceeds $200 billion mark in terms of market value.
Google is growing at a staggering rate, it stocks reached an all time high value of $658 and is currently at $644 per share. The total market value for Google exceeds $200 billion mark, more than News Corp, Disney, Viacom and CBS combined. It released its earnings report yesterday; it shot up 57 percent from last years to $4.23 billion dollars with net income totaled $1.32 billion dollars. It is just not revenues from Adsense, 65% of the earnings comes from Google owned sites.
With this new market value, Google has become the second largest technology company in the world, trailing only the Microsoft.
Thanks to its hefty earnings and income, Google was able to hire Jaiku (Microblogging), FeedBurner (RSS) and GrandCentral (Web phone service). Even with these acquisitions, Google was able to show high earnings.
While others like Yahoo don’t have the buying power like Google, all they can do is watch.
They have hired nearly 16,000 full time employees so far and are on a hiring spree (2,214 new employees since the month of June this year). Even with the current employees pool they reached this $200 billion figure, imagine what it will be with all the new hiring. Also, one should wonder why they are hiring so many unless it is for a giant project, we are yet to see.
Despite its growth, Google doesn’t look threatening like Microsoft or try to be a monopoly.
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