Financial Accounting

Google’s 2011 third quarter earnings results are in and the company is reporting $9.72 billion in revenue, which is a 33 percent increase from the same quarter last year. GAAP net income came in at $2.73 billion, up from $2.17 billion a year ago and Google-owned sites continued to generate the largest chunk of revenue with $6.74 billion, followed…

Chief Operating Officer Erik Prusch has been promoted and will take over the reins as president and CEO, and interim CEO and chairman John Stanton will become executive chairman of the board of directors. Erik Prusch will be faced with a monstrous challenge: secure roughly $600 million in capital to fund Clearwire's buildout of LTE and if none can…

Google announced that it plans to shutter its Labs department in an effort to focus more on its products and also announced the loss of Labs, Google has decided to close its Labs initiative as part of the company's efforts to streamline its product portfolio and focus its development efforts. The closing of Google Labs doesn't affect the company's…

Google brings in-app payments to any Web app and surprisingly easy fix gives apps the ability to charge for things in app. Google started talking about this particular new capability back at the I/O show way back in May, now it’s officially out and the interesting part is it just took one line of code to activate the feature and make it available…

Telecom giant Nokia and conglomerate Siemens are moving to restructure a joint venture in telecommunications networking equipment after failing to acquire a controlling stake in it and two private equity groups, Kohlberg Kravis Roberts and TPG Capital already dropped out of the auction to take over from Nokia as the controlling partner in NSN.…

SolarCity, the largest residential solar power provider in the state of California, which also provides financing, monitoring and installation services announced that it plans to team up with Google to offer discount services as part of a new financing initiative. Google is set to invest $280 million in a fund that hopes to help jump-start solar…