[IP] Google more valued than Disney Viacom GM or Ford?
------ Forwarded Message
From: Marty Salo <msalo@xxxxxxxxxxx>
Date: Sun, 24 Apr 2005 17:20:07 -0400
To: Dave Farber <dave@xxxxxxxxxx>
Subject: Google more valued than Disney Viacom GM or Ford?
What's good for Google is likely to be bad for traditional media,
especially radio and television.
The eye-popping revenue and profit growth reported last Thursday by the
most-used Internet search engine -- profit up more than five-fold to $369.2
million for the quarter and sales nearly doubling to $1.26 billion -- came
from surging Internet advertising.
(snip)
The stock, sold to the public at $85, rose $11.59 to close Friday at
$215.81 in Nasdaq composite trading after earlier surging to $224. That
surpassed the previous record of $216.80 after last quarter's earnings
report. Yahoo, which this week also reported a surge in profit and record
sales, fell 71¢ to $35.16.
The increase in Google's stock price pushed the company's market value to
$60 billion, more than media congloms such as Viacom and Disney, not to
mention industrial icons such as General Motors, Ford and Hewlett-Packard.
Google shares are worth $275 to $290 each, Goldman, Sachs analyst Anthony
Noto in New York said Friday. Noto, the top-ranked Internet analyst by
Institutional Investor magazine, called Google's earnings report
"outstanding."
Record revenue from Google and Sunnyvale, Calif.-based Yahoo illustrates
the growing shift of advertising spending from traditional media such as
newspapers and broadcast television.
(snip)
Google's quarterly sales eclipse the combined revenue of the New York
Times, the third-largest U.S. newspaper company and Dow Jones, publisher of
the Wall Street Journal.
Date in print: Mon., Apr. 25, 2005, Los Angeles
------ End of Forwarded Message
-------------------------------------
You are subscribed as roessler@xxxxxxxxxxxxxxxxxx
To manage your subscription, go to
http://v2.listbox.com/member/?listname=ip
Archives at: http://www.interesting-people.org/archives/interesting-people/