Google’s Chief Executive Eric Schmidt said Tuesday the economic situation is “pretty dire,” adding that he does not expect to see improvement until 2010.
“Everyone is assuming 2009 is a tough, tough year,” he said during an appearance at the Morgan Stanley Technology Conference in San Francisco.
Schmidt went on to say while Google and other Internet advertising giants may be better positioned than offline counterparts, “we are not immune” to current economic conditions. “I view the situation as pretty dire,” he said, referring to the economy.
Schmidt said Google management has spent much of its time lately conducting business reviews aimed at controlling operating costs and evaluating each business unit’s ability to generate revenue.
Shares in Google closed down less than 1% at $325.48. Google shares fell another 3% to $314.70 in recent late trading.
Schmidt also predicted that mobile search ad revenues would surpass PC-based paid search sales with a “few years,” as opposed to a few decades.
What does this mean to us domainers?
I don’t think .mobi will gain much because people just use their .com and redirect to a mobile page.
So I wouldn’t be a buyer of .mobi domains, .com is still going to be king.
Steven of http://unitedstatesvicepresident.com