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Google more valued than Disney Viacom GM or Ford?
From: David Farber <dave () farber net>
Date: Sun, 24 Apr 2005 17:22:29 -0400
------ Forwarded Message From: Marty Salo <msalo () verizon net> Date: Sun, 24 Apr 2005 17:20:07 -0400 To: Dave Farber <dave () farber net> 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 71ยข 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 lists-ip () insecure org To manage your subscription, go to http://v2.listbox.com/member/?listname=ip Archives at: http://www.interesting-people.org/archives/interesting-people/
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- Google more valued than Disney Viacom GM or Ford? David Farber (Apr 24)