By Daniel Stewart & Co
-Google missed Street estimates despite 24%YoY revenue and profits growth ($6.82bn, $1.84bn respectively) on higher costs associated with R&D, and a payroll increase of 1,184 to 21,805.
-The company highlighted internet advertising and smartphones as key areas for investment, emphasising the growth in Android apps but playing down the dwindling Nexus One handset.
-In commentary Google said it was pleased with the progress of display advertising, particularly on YouTube saying "our display network, which includes YouTube, is growing very rapidly" although it did not provide specific YouTube numbers.
-Takeaways? Google has high hopes for on-line advertising and growth prompted by the combination of smartphones and its Android platform. These are both areas which are clearly at the core of blinkx' offering, particularly following its announcement yesterday an exclusive global Android-based deal with Samsung. We remain Buyers of blinkx, target price under review.
from SMR.com
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