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It also depends on if it's a new versus mature market. Today to some extent but definitely three years ago, the smart phone companies were correctly focused on growing revenue as an indicator of market share, not on profit. When I started on the web, many SEs were battling to grow to be the biggest. None were profitable, it was all about getting the biggest piece of a growing market. Google won of course, beating Altavista, Hotbot, Excite and the rest. NOW is the time for them to profit.
Except in a growth cycle or certain other special cases, I'd say definitely profit. Growth is certainly valuable, though, so I'd easily give up profit for now of I could trade it for fast growth.
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