Google exceeds 4Q forecasts, though earnings drop
Google Inc.'s profit slipped for the first time in the fourth
quarter, but the Internet search leader is still weathering the
economic storm better than analysts anticipated.
The results
released Thursday indicated the Mountain View-based company was able to
rein in its free-spending ways enough to offset a slowdown in the
online ad market that generates most of Google's revenue. That
contrasted with a missed forecast and 5,000 layoffs announced earlier
in the day by rival Microsoft Corp.
Even so, there were signs the recession is starting to bear down on Google. (AP)