Oct 17, 2008

Fast Money Maker : Googles Profit hits a new record: Increases 26%third-quarter earnings

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Oct 17, 2008

An unexpected increase in google profit. A big internet giant, despite of the worlds economy conflict, it shows its own style. It reports a strong increase in slaes and bigger profit.

Google reported revenue of $5.54 billion in the quarter ended Sept. 30, an increase of 31% from $4.23 billion a year ago. Net income for the third quarter of $1.35 billion, up 26% from $1.07 billion a year ago.

"While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term, driving improvements to search and ads, while also investing in future growth areas such as enterprise, mobile, and display," said Google chief executive Eric Schmidt in a statement.

Facts of Success:

The number of paid clicks registered by Google on its sites and through its AdSense advertising network grew 4% compared to the second quarter and rose 18% compared to the same period a year ago.

The number of search queries is actually going up," said Jeffrey Lindsay, analyst with Sanford C. Bernstein & Co.

 

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