Google Doubles Third-Quarter Profit, Shares Rise
(AXcess News) Reno, NV - The world's No. 1 search engine, Google, reported an increase of 92 percent in profit for the third-quarter ending Sept. 30th after the closing bell on Friday, nearly double that of the same period a year ago, thanks to a hefty increase in Web search use.
Google reported net income of $733.4 million, or $2.36 a share, for the third-quarter, up 92 percent from $381.2 million, or $1.32 per share, in the third quarter of 2005.
Revenue climbed over 70 percent to $2.69 billion, Google said, due to double the rate of search growth over its closest competitor, Yahoo, in September.
"Our third quarter results are a testament to the strength of our network of advertisers and partners, as well as our continuing focus on users," said Eric Schmidt, CEO of Google. "We were particularly pleased with the contributions of our international business in a seasonally weaker quarter."
Shares of Google (Nasdaq: GOOG) climbed nearly 8 percent in after-hours trading to $460.00 per share after the Mountain View, Califorina-based Internet search provider released its earnings results for the third-quarter, which were released after the close of trading.
Nielsen/NetRatings said that Google's search requests amounted to half of the search engine volume being tracked, compared to rival Yahoo!, which only captured 23.4 percent.
Google Sites Revenues - Google-owned sites generated revenues of $1.63 billion, or 60% of total revenues, in the third quarter of 2006. This represents an 84% increase over third quarter 2005 revenues of $885 million and a 14% increase over second quarter 2006 revenues of $1.43 billion.
Google Network Revenues - Google's partner sites generated revenues, through AdSense programs, of $1.04 billion, or 39% of total revenues, in the third quarter of 2006. This is a 54% increase over network revenues of $675 million generated in the third quarter of 2005 and a 4% increase over second quarter 2006 revenues of $997 million.
International Revenues - Revenues from outside of the United States contributed 44% of total revenues in the third quarter of 2006, compared to 42% in the second quarter of 2006 and 39% in the third quarter of 2005. Had foreign exchange rates remained constant from the second quarter through the third quarter of 2006, our revenues in the third quarter of 2006 would have been $19 million lower. Had foreign exchange rates remained constant from the third quarter of 2005 through the third quarter of 2006, our revenues in the third quarter of 2006 would have been $35 million lower.
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Google reported net income of $733.4 million, or $2.36 a share, for the third-quarter, up 92 percent from $381.2 million, or $1.32 per share, in the third quarter of 2005.
Revenue climbed over 70 percent to $2.69 billion, Google said, due to double the rate of search growth over its closest competitor, Yahoo, in September.
"Our third quarter results are a testament to the strength of our network of advertisers and partners, as well as our continuing focus on users," said Eric Schmidt, CEO of Google. "We were particularly pleased with the contributions of our international business in a seasonally weaker quarter."
Shares of Google (Nasdaq: GOOG) climbed nearly 8 percent in after-hours trading to $460.00 per share after the Mountain View, Califorina-based Internet search provider released its earnings results for the third-quarter, which were released after the close of trading.
Nielsen/NetRatings said that Google's search requests amounted to half of the search engine volume being tracked, compared to rival Yahoo!, which only captured 23.4 percent.
Google Sites Revenues - Google-owned sites generated revenues of $1.63 billion, or 60% of total revenues, in the third quarter of 2006. This represents an 84% increase over third quarter 2005 revenues of $885 million and a 14% increase over second quarter 2006 revenues of $1.43 billion.
Google Network Revenues - Google's partner sites generated revenues, through AdSense programs, of $1.04 billion, or 39% of total revenues, in the third quarter of 2006. This is a 54% increase over network revenues of $675 million generated in the third quarter of 2005 and a 4% increase over second quarter 2006 revenues of $997 million.
International Revenues - Revenues from outside of the United States contributed 44% of total revenues in the third quarter of 2006, compared to 42% in the second quarter of 2006 and 39% in the third quarter of 2005. Had foreign exchange rates remained constant from the second quarter through the third quarter of 2006, our revenues in the third quarter of 2006 would have been $19 million lower. Had foreign exchange rates remained constant from the third quarter of 2005 through the third quarter of 2006, our revenues in the third quarter of 2006 would have been $35 million lower.
http://www.protect-x.com
posted by Maksim at 4:10 AM
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