Saying the advertisers using Google (Nasdaq: GOOG) are spread across a number of markets and industries, CEO Eric Schmidt said the company is in a healthy place if the slowdown in the economy continues.
Concerning where things are at now, Schmidt stated: "It's too early to say if there's (already) been any specific impact but if there were I don't think it would be much.
"We believe that if there were (a U.S. recession), we'll be well positioned. We're not particularly dependent on any particular one market. There's not a lot of advertising for any one market over another."
There's no doubt advertising will slow, but the migration of dollars to the Internet will help them go through this difficult time better than those dependent on traditional advertising channels.
This will be true for any company that works with an online ad model. Internet advertising will continue to grow, the question is how much economic effects will have on that growth over the next year or two.
As far as Google shareholders go, they aren't as confident in the almost complete reliance of Googles' success on the ubiquitous text ad, which accounts for about 98 percent of the company's revenue.
They've been trying to cut back reliance on them, but haven't been successful yet in that effort. Their latest strategy is in monetizing online video.
Since November, shares have dropped from a heady $750, to $439.16 at close today. After hours it has fallen to $4.33 and change, at about 5:30 EST.
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