Google beats forecasts as profits surge

first_img Thursday 14 October 2010 9:42 pm Google comfortably beat analysts’ sales and earnings forecasts when its third quarter results were posted yesterday. The world’s biggest search engine reported 32 per cent year-on-year growth in net income to $2.17bn (£1.37bn) and earnings per share, excluding one-time expenses of $7.64, up from $5.89 in third quarter 2009. Net revenue for the three months to 30 September was $5.48bn, a 25 per cent jump from the third quarter of 2009. Analysts had forecast around $6.67 earnings per share and net revenues of $5.25bn. Chief executive Eric Schmidt said it was “an excellent quarter”.Google’s core business grew “very well” and its newer businesses, particularly display and mobile, “continued to show significant momentum”, he said.Google’s overall revenues rose 23 per cent to $7.29bn as traffic-acquisition costs, the click-through commission payments from its partners, hit $1.81bn. Both the frequency with which customers clicked on its search adverts and the average cost-per-click advertisers paid Google rose in the quarter. The growth in net income for the search engine is particularly impressive as operating expenses rose 34 per cent at the company during the quarter and it added 1,500 new staff, to reach 23,331 employees. KCS-content Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrapcenter_img Google beats forecasts as profits surge whatsapp Show Comments ▼ Share whatsapplast_img

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