Google is no More Recession-proof, Boss Says

Recession has clung to almost all businesses worldwide like an incurable disease; however, it’s another issue that in some businesses the impacts are minor, while in others quite significant. When it comes to online world, many big players like Yahoo! seem to struggling for a better recovery and making their utmost to rescue their sinking ship. Similarly, Google, quite well-known as the Internet giant, has now begun to take that impact slowly but surely.

At least its 1Q financial results seem to suggest that the economic gloom has sunk its teeth in its financial performance. Google boss Eric Schmidt says in a conference call, “Just like many other companies, Google is also feeling the impact of the worldwide economic gloom.”

The financial results they reported may be a dream for most of businesses, no matter whether there is recession or boom, as they reported 8% increase in their net income that rose to $1.42b excluding commissions for advertising partners.

But still everything is not coming up roses, as their quarterly profit dropped 3% in the first quarter of the year that has been as ascending for quite some time and was found at the peak in the fourth quarter of the previous year.

However, if compare to other companies, Google’s business appears relatively strong and also seems to have least impacts of the recession the other big players of the tech industry.