Google Reports 46% Surge in Q3 Profits

Authored by Mark Hefflinger on October 18, 2007 - 1:25pm.

Mountain View, Calif. - Continuing to take advantage of the rapid growth of online advertising, Google on Thursday reported a 46% jump in third quarter profits.

The company said that it recorded net income of $1.07 billion, up from $733.4 million a year ago, as revenue jumped 57% to $4.23 billion.

Earnings per share of $3.91 topped consensus analyst estimates by $0.13, according to a survey by Thomson Financial.

"Our core search advertising business experienced continued momentum driven by growth in monetization and traffic, and we are creating a wider and deeper ads system through our focus on innovation, bringing more ad formats to our advertisers," said Google CEO Eric Schmidt.

Related Links:
http://www.google.com/intl/en/press/pressrel/revenues_q307.html