Google Profits Just Keep Soaring, With No End in Sight
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For Silicon Valley's most dynamic company there is no ceiling, apparently. Google reports another robust quarter, with profits up 46 percent.
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Web search leader Google Inc. (GOOG.O: Quote, Profile, Research) , in its first earnings report as a publicly held company, on Thursday posted a profit of $52.
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The owner of the world&#39;s second most used internet search engine posted net income of $253.3m (Â£141m) or 17 cents a share, including a gain related to the sale of a portion of its stake in Google.
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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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Google&#39;s first quarterly earnings statement since its recent IPO rewarded investors with the news that the company has doubled its profits in the past year.
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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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In its first earnings report as a public company, Google posted a third-quarter profit of $52 million, more than doubling its profits year-over-year thanks to booming online-advertising revenue.
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Tired of over-achievement Google's income nearly tripled over the Christmas holiday period, boosted by growing online advertising, but failed to excite investors.â¦
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Google Inc. yesterday reported that sales and profit more than doubled in the third quarter -- despite a one-time expense of more than $200 million -- as the company issued its first quarterly financial report since going public.
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Stock of Google Inc.  powered to new highs on Friday, buoyed by the web search leader's new products and growth prospects, which complement its recent strong financial results, analysts said.
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Shares of Google Inc., the Internet search engine that first sold stock to the public in August, surged 15 percent after profit more than doubled, and the company said online advertising sales show no signs of slowing.
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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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Googleâs share of the search market keeps growing, and no one seems willing to bet that will change soon. Body:\
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On Thursday 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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Internet search engine Google Inc said its net profit and sales more than doubled in the third quarter, spurring a spectacular jump in its share price.
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YESTERDAY Close $639.62 Change +$6.14 52-WEEK High $641.41 Low $417.50 Google Inc., the owner of the most popular Internet search engine, said third-quarter profit jumped 46 percent, beating analysts' estimates, after the company extended its lead over Yahoo Inc. and grew outside the United States.
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Web search leader Google Inc. posted quarterly earnings on Tuesday that blew past expectations on strong Web search advertising, driving its share price up almost 10 percent to a record high.