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Google announces record profits

Search engine giant Google has today announced net income of £1.4 billion in the third quarter of 2010 which is a 32% increase on the corresponding period last year. It seems that not only are the company's core search engine and advertising operations performing well but there has also been a significant contribution from recent acquisitions and new projects.

Revenues for the third quarter increased by 23% to £4.6 billion and there is no doubt that Google is by far and away the largest technology-based company in the world. This is a company which has tentacles in every area of the world wide economy, local economies and local businesses and is a name which is more recognised than any other in the business arena. It will be interesting to see how the authorities react in the medium to longer term with regards to regulating Google which many believe is beginning to grow out of control.

There are definite similarities between the Google situation and the Microsoft situation of years gone by. This resulted in a regulatory clampdown by US and European authorities to try and reduce the influence which Microsoft has, and in many ways still has, in the business and home computer markets.

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