Tuesday, March 2, 2010

Google Highlights From MS TMT Conference $GOOG

Highlights From MS TMT Conference

Google’s CFO Patrick Pinchette and VP of Engineering Vic Gundotra provided upbeat comments – in our view -
at our Technology, Media & Telecom Conference in San Francisco on Monday. Our key takeaways follow.

Economy – As early as 7/09, Google decided to be “back in business” after witnessing “dire” economic
situations in late C2008 and early C2009. Patrick noted the economy has improved and Google is increasing its
focus on innovation by aggressively hiring engineering talent. However, Patrick also cautioned that a return to
traditional quarterly revenue seasonality may be impacted by volatile forex environment.

Search – Google continues have a strong innovation pipeline in search and monetization. Patrick reiterated
that “search continues to be a frontier” and Google is investing heavily in search comparison (for certain
commerce categories + image search), as well as integrating customer ratings and local reviews.

Google Highlights From MS TMT Conference

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