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Google Profits Up 46 Percent in Third Quarter

Oct 18, 2007  •  Post A Comment

Google beat Wall Street’s expectations for its third-quarter earnings, posting a 46 percent increase in profits.
The search giant said it earned $1.07 billion for the quarter, up from net income of $733.4 million a year ago.
Revenue hit $4.23 billion, a 57 percent rise over last year. During the past quarter, the company’s stock price rose past $600 per share for the first time.
In the earnings call, Google CEO Eric Schmidt pointed to Google’s new initiatives in the online video ad arena, including text and overlay ads on YouTube videos. “Each of these initiatives gives advertisers new and interesting ways to build relationships with customers,” he said.
Google reached a unique audience of 118 million in September, according to Nielsen Online.

6 Comments

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