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Monday, July 21st, 2008

Google and Microsoft Show Profits for Q2 2008

 

Google’s earnings are in after the second quarter report was issued yesterday. While their net income is up from the same period in 2007 by approximately $325 Million (925.1 Million in Q2 of 2007, 1.25 Billion in Q2 of 2008), this is not as high as was expected – Wall Street was expecting to see $4.74 per share – actual earnings were $4.63 per share.

With the economy down on its luck Google still managed to make more than $300 Million – roughly a 35% increase over the same period last year.

Microsofts profits for Q2 are also up by roughly 46 cents a share. They saw earnings in Q2 of 2007 at $3 Billion, and an increase of 42% to $4.3 billion for 2008. These are impressive earnings, however, Microsoft’s online business did not help much in terms of this profit. Compared to 2007, Q2 of 2008 actually saw a loss of $488 Million!

Had Microsoft’s Internet division actually turned a profit, they would have achieved Wall Streets estimate of 47 cents per share, rather than their actual 46 cents.

Yahoo has not yet released their Q2 Earnings for this year. Their shareholder conference call to discuss earnings is scheduled for July 22 at 5:00pm ET.


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