Although its most recent quarterly balance sheet showed it had $5.8 billion in marketable securities,
In addition, 8% of Google's income of $1.5 billion last year was from investments.
"Google states that it is not in the business of investing, reinvesting or trading in securities [but is an] Internet and new media business," Google told the SEC. The company said it invests only for "bona fide business purposes, [not] for short-term speculative purposes."
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