Google today issued a surprise announcement saying that Larry Page will be the company's CEO, with current CEO Eric Schmidt moving to Executive Chairman. Google's other co-founder Sergey Brin will focus on strategic projects, specifically, new products.
While this is a surprise to the market, Schmidt says that Page and Brin no longer "need adult supervision."
Google's Bradley Horowitz, vice president of product management at Google, said Google Voice and cloud computing will be huge plays for the search engine giant in 2010.
Expect the Gizmo5 assets to bolster the Google Voice phone management application. Google has been toiling in the cloud computing market for a few years now, hosting its Google Apps collaboration programs for consumers and businesses.
Chinese author Mian Mian, who shot to fame with lurid tales of sex, drugs and alcohol in the underworld, will sue Google this week for copyright infringement, her lawyer said.
Sun Jingwei said the case the first civil lawsuit against Google Inc. in China over the scanning of books into its controversial web library would open at a Beijing court on Tuesday.
Google Inc.'s quarterly lobbying expenses eclipsed $1 million for the first time during the summer as the company tried to build on its dominance of Internet search and expand into other markets.
The company spent nearly $1.1 million trying to influence lawmakers and regulators in the third quarter, a 50 percent increase from the July-September period last year, according to a recent disclosure statement.
Google reported revenues of $5.94 billion for the quarter ended September 30, 2009, an increase of 7% compared to the third quarter of 2008. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the third quarter of 2009, TAC totaled $1.56 billion, or 27% of advertising revenues.
Earnings beat expectations: GAAP net income in the third quarter of 2009 was $1.64 billion, compared to $1.29 billion in the third quarter of 2008.
|Google Surprises with Top Management Changes (GOOG)|
|Morgan Stanley Earnings Up on Record Brokerage Fee (MS)|
|AT&T Announces New Bundle Choices (T)|
|E*TRADE Appoints Steven Freiberg CEO (ETFC)|
|February CPI Unchanged|
|US Jobless Claims Fall By 5K|
|Citi's Primerica unit files for IPO (C)|
|MetLife to Pay $1.5 Billion in Policy Dividends (MET)|
|Producer Prices Post Largest Fall In 7 months|
|IBM Launches New Line of Servers (IBM)|
|Activists Say Whole Foods Bad for Planet (WFMI)|
|Estee Lauder Launches Global Marketing Division (EL)|
|Moody's upgrades Dr Pepper Snapple Debt (DPS)|
|P&G Recalls Two Pringles Flavors (PG)|