Google (GOOG) Q3-2008 Earnings Call Notes
-Revenue $4.04B ex-TAC vs. $4.06B est. EPS $4.92 vs. $4.76 est., a 3.4% beat
-Revenue up 31% y/y and 3% q/q. International 51% of revenue
-Had good quarter as marketing budgets squeezed, companies want measurable results
-Consumer budget squeezed, people use the web to shop and research for bargains
-Will keep a close eye on costs given what we read in the papers
-We are realistic about the macro-economic climate
-Home/auto finance and real estate were the weak verticals
-20,000 full time employees, 500 new net hires. 1/2 of them engineering
-FCF $1.73B, up 61% y/y
-They totally avoided the business linearity by month question
-So much uncertainty in the financial markets and press, very very hard for us to give you sense of what will happen for Christmas and next 12 months. Don’t know what is going to happen