Media and Technology posting profit for Q2

Posted by: ellabeepr on: July 17, 2009

In: Media| Media and Technology| Opportunities
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Economic experts say the recession is over. I sure hope so, but I rather be patient before I start popping bottles. Regardless, here is a bit of good news to send you into the weekend. Take a look at which companies posted an increase in earnings for quarter two:

Google enjoys a small rebound in the second quarter, posting a profit of $1.48 billion on $4.66 per share, a 19 percent growth over the second quarter of 2008. Google CEO Eric Schmidt says Google is focused on innovation with the Google Chrome OS and the core search engine; these are two big weapons the search engine giant is wielding against Microsoft’s Windows operating system and Bing search engine.

Information technology powerhouse IBM gave Wall Street a lift after markets closed Thursday, releasing a second quarter earnings report that smashed analysts’ profit predictions and raised the bar for the rest of the year.

Gannett Co., the largest U.S. newspaper publisher, topped expectations for its second-quarter earnings Wednesday as it reversed a loss from a year ago, even though advertising revenue continues to dive. Its shares jumped 15 percent in morning trading.

Media conglomerate Grupo Televisa SAB (TV), Mexico’s No. 1 broadcaster and the largest producer of Spanish-language content in the world, is expected to report a 9% increase in second-quarter net profit this week.

While General Electric Co. reported sharply lower second-quarter earnings, that still beat Wall Street expectations, even as its revenue fell more sharply than forecasts.

Financial experts say the recession is over and that this recovery is the real deal. Let’s see what quarter three will bring.