
"Business is very, very good... "
By Elinor Mills
Published: 20 October 2006 08:20 BST
Google's third-quarter profit nearly doubled from a year ago as sales of keyword-related advertising continued to grow for the world's top web search engine.
Google chief executive Eric Schmidt said in a conference call after the results were released: "Business is very, very good here at Google. We had an excellent quarter in all respects, especially in international."
During the quarter, Google saw strong user growth and improvements in search quality and ad sales, Schmidt said.
The news sent Google's stock up shares rising nearly eight per cent to $459.51 in after-hours trade, after closing at $426.06. The profits announcement was made right after the market closed.
Net profits for the quarter ended 30 September were $733m, or $2.36 per share, including one-time items such as stock-based compensation, compared with $381.2m, or $1.32 per share. Excluding those items, profits were $812m, or $2.62 per share.
Total revenue for the third quarter rose 70 per cent to $2.69bn, compared to $1.58bn a year ago. Excluding traffic acquisition costs, or commissions paid to content partners, revenue was $1.87bn.
Analysts polled by Thomson Financial were expecting Google to post profits per share of $2.42 excluding items, and revenue of $1.81bn excluding traffic acquisition costs.
Mark Mahaney, an analyst at Citigroup, praised Google's results, saying they were "extremely strong, indicating a still robust search market, market share gains, and excellent execution".
Elinor Mills writes for CNET News.com
Candidates should have contemporary understanding of Google Ad words and associated algorithms. A leading creative agency requires a search engine ...
Stock Loans experience required. Apply ASAP for more information if you are experienced in C#, Stock Loans & MS SQL. C# Developer needed for ...
The candidate must have Corporate Actions and Stock Lending experience. My client is a financial software house based in London which provides an ...
CIO50 2008
The silicon.com CIO50 2008 profiles the most influential and innovative tech chiefs in the UK across all industries and organisation size, from the biggest FTSE100 companies to high growth dot-com start ups and the public sector. The list was voted on by the UK CIO community and a panel of experts. Find out more in our latest special report.
Stories from the web...
Copyright ©1995-2008 CNET Networks, Inc. All rights reserved. Top of page
Steve Ranger Editor's Blog: Why we write about the iPhone Is it just because it's so shiny?
Siān Croxon Legal Eye: Trademark landmark Pricking O2's bubble