News
[PSUs]| Tuesday 7th August 2001 |
The exact degree of profitability is not being disclosed, but the new CEO Eric Schmidt has revealed that the company has had a profit on operations for the last two quarters.
News of Google's profitability emerged following the official unveiling of Schmidt yesterday. He first joined the board back in March and succeeds Larry Page who, along with Sergey Brin, was a founder of Google. Schmidt is one of the industry's heavyweights, having been chief technology officer at Sun Microsystems and then chairman and CEO of Novell. While he has left his post as Novell's CEO, he remains Novell's chairman of the board.
Back in June, we reported that the original founders of Google - Brin and Page - were being advised to publicly float the company, which could be valued at anything up to $170m.
Only last week, in what was more pessimistic news for the dot-com sector, rival search engine Ask Jeeves warned that it could miss its deadline for breaking even.
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