Google 3Q Profit Soars 46 Percent
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SAN FRANCISCO -- Google Inc.'s third-quarter profit soared 46 percent to hurdle the enormous expectations that have elevated the Internet search leader's stock price by more $100 during the past month.
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Despite some market concerns over Google&#39;s growth potential in a slowing economy, the search giant continues to report strong growth, with fourth-quarter revenue up 51 percent over the same period the year before.
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Google Inc.&#39;s shares surged to more than twice its initial public offering price after third-quarter profit and sales more the doubled and the company said the market for Web advertising shows no signs of slowing.
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Google Inc. reported Thursday that sales and profit more than doubled in third quarter, despite an expense of more than $200 million, as the company issued its first quarterly financial report since going public.
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Google reported a 17 percent jump in profit and a 51 percent growth in revenue in the fourth quarter, falling shy of Wall Streetâs expectations.
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(InfoWorld) - Google's revenue continued to climb in the second quarter with the company reporting revenue of $3.87 billion, up 58 percent compared to the same quarter last year. Net income for the quarter, which ended June 30, was $925 million, down just slightly from $1 billion in the first quarter. On a non-GAAP (generally accepted accounting principles) basis, net income for the quarter was $1.12 billion, compared to $1.16 billion in the first quarter. Google-owned sites generated revenue of $2.49 billion, or 64 percent of revenue for the quarter, an improvement of 74 percent over the same quarter last year. Revenue outside of the U.S. was $1.84 billion, or 48 percent of total revenue for the quarter. That's up from 42 percent in the second quarter 2006. Google was pleased with its international expansion. "We continue to make significant international investments and we're seeing the benefits of this strategy," said George Reyes, CFO, during a conference call to discuss the earnings. Europe drove international growth for the search giant, with Spain, Italy, and France leading the charge and Germany and the U.K. also serving as significant revenue drivers, he said. The company continues to hire new workers in its international sites and expand product support in international markets. Paid clicks grew by 47 percent compared to the second quarter of 2006. That includes clicks related to ads served on Google sites as well as the sites of AdSense customers. Earnings per share was a bit lower than expected by analysts. Non-GAAP earnings per share for the second quarter was $3.56, down from $3.68 in the first quarter and a few cents shy of the $3.59 expected by financial analysts polled by Thomson Financial. Google's rift with eBay Inc. during the quarter didn't have a negative affect on earnings, executives said. In June, eBay pulled all of its ads from Google's AdSense network. The auction giant later returned to AdSense but at a significantly lower level. Even though eBay has been the largest advertiser on AdSense, there was no impact on Google from the change, said Eric Schmidt, chairman and CEO of Google. "EBay is a long term partner for Google and while it's true they adjusted their mix in our ad model, they continue to be a significant advertiser," he said. "We did not see an impact on Google from the changes they talk about that they made." During the call with financial analysts, Schmidt touched on Google's interest in upcoming wireless spectrum auctions. Google wants to see consumers buy any mobile device and be able to connect to a wireless network and use the full capability of the Internet, he said. That's because he wants those users to become Google advertising customers. "There's a direct connection between the open interoperable network we're arguing for in the FCC filing and so forth and the usage of Google services," he said. Google filed a document with the Federal Communications Commission urging the agency to make changes to the rules for an upcoming spectrum auction in order to ensure that the resulting networks are open. Google's earnings report comes against the backdrop of hints of a challenge to the company'sÂ proposed acquisition of DoubleClick. A U.S. House of Representatives subcommittee hasÂ opened an investigation into the proposed $1 billion acquisition. The executives did not discuss the proposed merger, but Schmidt did touch on legal woes for the company. The two most significant lawsuits Google faces at the moment include those related to its book search project and the suit filed by Viacom related to YouTube, the online video site that Google owns. Schmidt called the suits very important and said he wished they could be solved by technology or otherwise. He also cautioned that governments around the world could potentially find some of Google's activities inappropriate and that could become the source of future legal troubles. For now, however, there are no such threats, he said. This story was updated on July 19, 2007 Â
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Google&#8217;s 2006 Q4 earnings beat Wall Street expectations when they announed today that revenues were up 67% over Q4 2005 and 16% more than last quarter. From the Google Earnings Press Release: Q4 Financial Summary  Google reported revenues of $3.21 billion for the quarter ended December 31, 2006, an increase of 67% compared to the fourth quarter [...]
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Google's revenue for the second quarter was up 58% compared to the same quarter in 2006, hitting $3.87 billion.
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Internet search engine Google says its ability to cash in on web adverts helped its profits triple in the last quarter of 2006.
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With its profits and stock surging, the search giant is winning over skeptics. Still, long-term growth challenges remain. With Google&#39;s shares climbing 75%, to $150 since its August initial public offering, a
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Internet search engine Google thanks strong advertising sales for a target-beating rise in both turnover and profits.
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Research In Motion reported a sharply higher third-quarter profit on Tuesday as sales more than doubled on sizzling demand for its BlackBerry wireless e-mail device.
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Google Inc., the world&#39;s most-used Internet search engine, said net income more than doubled to $52 million after sales of Web advertising rose.
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Google Inc.'s third-quarter profit more than doubled, reflecting a continued surge in the online advertising distributed by its Internet-leading search engine.
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Web search leader Google, in its first earnings report as a publicly held company, today posted a profit of $52.0 million in the third quarter on strong Web search advertising.
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GoogleÂs shares gained $14.60, or 3 percent, to close at $509.65, passing the $500 mark for the first time.
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Despite some market concerns over Google&#39;s growth potential in a slowing economy, the search giant continues to report strong growth, with fourth-quarter revenue up 51 percent over the same period the year before.Google reported revenue of $4.83 billion for the quarter ending Dec. 31 using GAAP (generally accepted accounting principles). Net income for the period was $1.21 billion, compared to $1.01 billion in the third quarter of 2007.With earnings per share of $4.43, Google just missed analyst consensus of $4.44 on a non-GAAP basis, as polled by First Call.Google continues to increase revenue from outside the United States, reporting that 48 percent of total revenue in the quarter came from international markets. That&#39;s up from 44 percent in the same period a year earlier but the same as the third-quarter 2007.In a statement, Google&#39;s CEO Eric Schmidt said that the report reflects strong momentum in the company&#39;s core business as well as a growing receptivity to its new businesses.