Fear not, techies. Despite troubles in China and glitches with its new Nexus One phone, Google is still a cash factory, and its search business is mint-like in its ability to print money.
The search giant of Silicon Valley reported its latest quarterly earning numbers, again hitting it out of the park. Profit for the last three months quintupled from this time last year. For the final three months of the worst financial year any of us can remember, Google pulled in close to $2 billion.
Even the company's growth rate, once a matter of concern, is back to double digits. It's almost as if the recession was something that happened to everyone else.
Investors have been buying in, as well. Google (GOOG) stock has practically doubled over the last twelve months, and even after a quick post-earning report selloff Thursday afternoon, the company share price leveled off. It even gained a couple bucks on what was the worst day for the stock market in several months.
Where does the company go from here? Its moves regarding China will be closely watched, and Nexus One owners will likely continue to howl for better customer service. But when it comes to search, nobody is touching Google these days, and that's where the money is.