Google Tops Earnings Estimates
By SmallStocks on Oct 17, 2008 in Business
Google Inc. (GOOG) the absolute market leader in search and advertising, posted a third-quarter profit which exceeded expectations and helped stem some concern that the companies key income source – advertising – was falling. The Mountain View, California based company – whose staff are now around 18,000 people – stated that net income for the period ending in September rose to $1.35 Billion USD, or $4.24 per share from $1.25 Billion USD or $3.92 a share in the same period last year. Revenue is pushing $4.04 Billion USD, although indications from Google CEO, Eric Schmidt, are that the things are going to “slow down”
The company also stated that more than 51% of its third-quarter revenue was coming from international countries and that the company had been able to ensure that profits were adequately protected against any relevant US dollar movements. Google primarily deals in Euro, Pound and Canadian dollar outside of the US dollar.
Google also stated that its “paid clicks” have risen by 4% from the previous quarter (feel free to click some ads on this site 
) and 18% compared to the previous year. They also continue to dominate the search market – taking more than 63% of the US search market, a 5.9% increase for the same period last year.
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