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I hope this means continued solid payouts from G for their Adsense program for another quarter... =)
Not sure if that was irony....
Solid as in... the concrete foundation of a building that stayed in place even after the rest has collapsed?
or there was a 600% boom in competition / decrease in advertisers / lower CPC in all the sectors I know of... my my, why is it that I always have to be in the control group. It's not much, just a 300% decrease over the same period with all else being the same, including competition, traffic, rankings, relevancy, CTR and even the ads. But what do I know? Good model though.
"Companies such as GM have formal hedging policies in place - for many many years. ALL of the FX exposure is usually 100% hedged. GOOG is new at the game and is growing so fast they haven't been able to hedge or even forecast their FX exposure. It is a moving target. They happend to have gotten lucky since the FX market moved their way. It could have been a $121M LOSS.
Don't expect massive swings going forward. Sooner or later they will be able to forecast and manage it. The poster is correct. Without the FX gain - they would have missed.
I do this for a living for 13+ years with major corporations."