The fact that this news will be all over the place by tomorrow morning doesn't make it any less worthy of a post! From The Globe and Mail:
Google Inc., the world's No. 1 Internet search engine, said Thursday that third-quarter profit soared sevenfold as sales nearly doubled. The stock climbed 7.7 per cent.
After the close of trading, the Mountain View, California-based company said its profit surged 633 per cent to $381.2-million (U.S.) or $1.32 a share from $52-million or 19 cents a year ago.
Excluding certain items, Google earned $1.51 a share. Analysts were expecting earnings of $1.36 a share, on average.
The company's net sales rose 96 per cent to $1.58-billion in the period ended Sept. 30 from $805.9-million last year.
Sales, excluding fees passed on to other websites for displaying ads, came in at $1.05-billion, above an analyst consensus target for $944-million, provided by Thomson First Call.
“Although this is typically a slower season for Internet properties, we had another exceptional quarter,” Google Chief Executive Eric Schmidt in a the release.
Shares of Google rose $23.25 or 7.67 per cent to $326.45 in late trading Thursday. The stock has risen 60 per cent since the start of the year.
Google-owned sites generated 56 per cent or $885-million of the company's overall sales. Revenues from Google's partner sites, through AdSense programs, generated 43 per cent or $675-million of total sales, the company said.
World domination looms ever-closer....
Here's my math. $1.58B - $1.05B = $503M in Adsense earnings paid out. I wanna kiss Sergei.
Posted by: Randy Charles Morin | October 20, 2005 at 05:31 PM
Looks like Google is contemplating a move into the classified ad space. I wonder what the pricing model might look like...and, would classified ad listings be included in search?? Neato.
http://abcnews.go.com/Technology/wireStory?id=1251278&CMP=OTC-RSSFeeds0312
Posted by: Scott Cohen | October 26, 2005 at 10:56 AM