Feeds

Schmidt says Google could hit a hundred billion

A hundred billion of what?

New hybrid storage solutions

Google promised Wall St the world yesterday, as it sought to steady nervy analysts who have wiped billions of its stock value in recent weeks.

CEO Eric Schmidt lifted the roof of the Googleplex a touch when he told a meeting of analysts he reckoned the firm could become a $100bn company, the Associated Press reports.

However, Schmidt did not say whether that would be $100bn in sales or in market cap. If he meant revs, that would be quite a jump on the $1.6bn it turned in last year. Whatever kind of a target Schmidt had in mind, he said it was achievable as the company pushed into new advertising channels.

Execs also said they expected to top last year’s $838m capital investment, as it further racks up its computing muscle. It will suck in people as quickly as processors, it added, though this will mainly be outside the US. Schmidt also said Microsoft was still the company that was the biggest threat, mainly because of its history of strangling promising startups at birth or shortly after.

All this was uncommonly open for Google, which is happy to circulate details of what it serves up in its staff canteens, but won’t give Wall Street financial guidance.

However, recent concerns over the company’s growth rate, partially stoked by CGO George Reyes, led to a major slip in its share price. ®

New hybrid storage solutions

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.