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Google with 29% profit growth and new CEO

The internet company Google Inc announced that its co-founder Larry Page will replace Eric Schmidt as CEO in surprise castle in management. This became clear in announcing its financial results for the last quarter of 2010, which showed an increase in its profit of 29% annually. The based in Mountain View, California, company said the change in leadership will come into force on 4 April this year. Reshuffle aims "to simplify decision-making and establish clear lines of responsibility and accountability for senior management." Larry Page will assume leadership of Google at a time when the company invests more heavily to expand its business and reduce our dependence on revenues from online advertising. The change in the leadership of Google Eric Schmidt provides focus on transactions, partnerships, customers and the wider business relationships the company. He will also continue to act as advisor to Larry Page and other co-founder Sergey Brin of Google, which in turn will devote its energy to strategic projects. Speaking to investors Eric Schmidt said he expected to have significant change in strategic direction of the company. He added that among the three leaders of the company there is no tension.
"We actually share the same view on everything," he told the Wall Street Journal.
Although Google's core business continues to grow as part of its business operations did not bring the expected success, social networking Google Wave, as well as Google's attempt to sell directly to consumers smartphone Nexus One. The shares of Google rose 1.3 percent to 635 dollars in the hours after regular trading on Nasdaq, after the company's financial results for the fourth quarter exceeded expectations on Wall Street. Google posted net profit of 2.54 billion dollars or 7.81 dollars per share, compared to 1.97 billion dollars or 6.13 dollars per share, a year earlier. Excluding certain one-off income and expenses earnings per share rose to 8.75 dollars from 6.79 dollars a year ago. the revenues increased by 26% yoy to 8.44 billion dollars. Commissions paid by the marketing partner of Google, are 25% of revenues. Excluding them, revenue increased by 29% yoy to about 6.37 billion dollars. The analysts surveyed by Thomson Reuters forecast net profit of 8.09 dollars per share and revenue of 6.06 billion after excluding one-off effects. During the period, Google employees increased by 4.6% to 24 400 people who are employed full time.