{"id":522535,"date":"2010-04-09T13:00:00","date_gmt":"2010-04-09T17:00:00","guid":{"rendered":"http:\/\/www.tbiresearch.com\/the-google-investor-ad-spend-roaring-back-but-google-adrift-2010-4"},"modified":"2010-04-09T13:00:00","modified_gmt":"2010-04-09T17:00:00","slug":"the-google-investor-ad-spend-roaring-back-but-google-adrift-goog","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/522535","title":{"rendered":"THE GOOGLE INVESTOR: Ad Spend Roaring Back, But Google Adrift (GOOG)"},"content":{"rendered":"<p><em><strong>The Google Investor<\/strong> is a daily report from <a href=\"http:\/\/www.tbiresearch.com\">TBI  Research<\/a>. <a href=\"http:\/\/www.businessinsider.com\/google-investor-newsletter-2010-2\">Sign              up here to receive it by email<\/a><\/em><em>.<\/em><\/p>\n<hr \/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/5b7a6c792eabf34864844d00-270-300\/rocketsoar.jpg\" border=\"0\" alt=\"rocketsoar\" width=\"270\" height=\"300\" \/>GOOG Slips Modestly Through Mid-day<br \/><\/strong>The stock has been range-bound ($560 &#8211; $570) for the past 2 weeks, as the market awaits Q1 results.  GOOG  trades at 18x 2010  EPS and <a href=\"http:\/\/spreadsheets.google.com\/pub?key=t7whSQCps9--Jcv5xBt2fgw&amp;gid=4\" >19x Enterprise Value \/ EBIT<\/a>.&nbsp; Potential near-term  catalysts include the March quarter  earnings release on April 15th;  updates on changes to paid search  results; Android adoption; and  benchmarks surrounding newer initiatives, which have mostly been disappointing  (Wave, Chrome, Base, broadband  network, mobile ads, etc.). Google&#8217;s main challenge remains that search is  maturing,  and the company has yet to develop a strong second growth engine.<\/p>\n<p><strong><a href=\"http:\/\/www.marketwatch.com\/story\/google-seen-posting-sharp-profit-sales-gains-2010-04-08\" >Google Benefiting From Rebound In Online  Advertising, Look For Strong Quarter<\/a> (Market Watch)<\/strong><br \/> Google is largely expected to post a solid quarter when it reports next  Thursday. Out this morning are a few positive reports:<\/p>\n<ul>\n<li> Justin Post published two research reports on  Google this morning. First, a Search Engine Marketing Professional Organization (SEMPO) suggests that <strong>search advertisers will spend 14% more in  North America during 2010 than in 2009.&nbsp; <\/strong>Clearly this is good for Google, which should grow revenue 12% this year according to Post.&nbsp; In addition, Google remained the number one search property in March (it&#8217;s pretty much a one-horse race at this point), with 176 million visitors or  16% year-over-year growth. YouTube  visitors were also up 24% year-over-year to 103 million.<\/li>\n<li>Susquehanna analyst, Marianne Wolk believes that Google&rsquo;s strengths  in the mobile ad space are substantial advertiser reach, favorable  pricing to publishers, technology and cross platform capabilities.  Weaknesses include limited mobile display and a less &#8220;owned&#8221; target  market. Overall Wolk believes Google is well positioned to take on Apple.  She maintains her Positive rating and $735 price target.<\/li>\n<\/ul>\n<p><strong><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052702304198004575172012898716950.html\" >Google \/ AdMob Approval Gets Help From Apple&#8217;s Mobile Ad Efforts<\/a> (The Wall Street Journal)<br \/> <\/strong>Steve Jobs unveiled Apple&#8217;s mobile advertising platform,  iAd yesterday. The new system &#8220;could end up helping Google defend its acquisition  of AdMob.&#8221; As the FTC decides whether or not to challenge the deal, &#8220;Google has been  arguing that mobile advertising is a nascent and competitive field.  Earlier this week, a Google spokesman referenced Apple&#8217;s expected  entrance into the market in a statement defending the deal&#8217;s  competitiveness.&#8221; An AdMob spokesperson even said that Apple is &#8220;going  to be a strong competitor for sure.&#8221; And doesn&#8217;t Google know it. The two  have been at each others&#8217; throats in just about every market it seems  recently (mobile, cloud computing, among others).<\/p>\n<p><strong><a href=\"http:\/\/www.adweek.com\/aw\/content_display\/news\/digital\/e3i08306165819053d9a1ee1ac419dc9a71\" >Google Hiring! Great News For The Online Advertising  Market<\/a> (AdWeek)<\/strong><br \/>Last year, Google had its first layoffs ever,  firing about 500 ad sales employees. The cuts were part of a  re-organization following US sales boss Tim Armstrong&#8217;s departure to  AOL. Company  officials told AdWeek it plans to hire over 500 staffers in positions  ranging &#8220;from a strategic partner development manager within the Google  TV Advertising group to a display sales operations manager, media and  platforms at AdX (Google&rsquo;s exchange).&#8221; The move is an indication the company believes the rebound in online advertising is sustainable.&nbsp; This should instill some confidence in GOOG investors.<\/p>\n<p><strong><a href=\"http:\/\/www.businessinsider.com\/youtube-starts-linking-back-to-the-blogs-that-drive-it-traffic-2010-4\" >YouTube Introducing New Feature As Incentive To  Increase Traffic<\/a> (Business Insider)<\/strong><br \/> YouTube is introducing a new &#8220;as seen on&#8221; feature that will credit and  link to sources driving traffic to a particular video. When a blog drives a significant (not yet specified)  portion of a YouTube video&#8217;s traffic, an &#8220;As Seen On: ___&#8221; link will  appear beneath the video, linking back to the referring site. Nick Saint  at Business Insider believes this provides web publishers with an  incentive to send yet more traffic to YouTube in the hopes of picking  up referrals from the video giant. And more traffic means more ad  revenue. Google is still experimenting with the details of the feature,  which is only live on select videos for now.&nbsp; The plan is to roll it  out universally as a permanent feature.<\/p>\n<p><a href=\"http:\/\/www.tbiresearch.com\/the-google-investor-ad-spend-roaring-back-but-google-adrift-2010-4#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.tbiresearch.com\/google-investor-google-needs-to-innovate-or-the-stock-is-hosed-2010-4\">THE GOOGLE INVESTOR: Google Needs To Innovate Or The Stock Is Hosed<\/a><\/li>\n<li><a href=\"http:\/\/www.tbiresearch.com\/google-investor-is-the-ftc-out-to-kill-the-admob-deal-2010-4\">Google Investor: Is The FTC Out To Kill The AdMob Deal?<\/a><\/li>\n<li><a href=\"http:\/\/www.tbiresearch.com\/google-investor-wall-street-starts-making-its-q110-predictions-2010-4\">Google Investor: Android Continues To Gain Share; Quickly Catching Up To Windows<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/UWYbsKqYFW8\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Google Investor is a daily report from TBI Research. Sign up here to receive it by email. GOOG Slips Modestly Through Mid-dayThe stock has been range-bound ($560 &#8211; $570) for the past 2 weeks, as the market awaits Q1 results. GOOG trades at 18x 2010 EPS and 19x Enterprise Value \/ EBIT.&nbsp; Potential near-term [&hellip;]<\/p>\n","protected":false},"author":412,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-522535","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/522535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/412"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=522535"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/522535\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=522535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=522535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=522535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}