Google’s Q3 Numbers Squash All Others
Last month Google’s shares rose to over $100 and the company reported that its net income in the third quarter skyrocketed 46% from the second quarter. Sales grew 57%, exceeding everybody’s expectations.
These numbers indicate that the firm is increasing twice as fast as the entire online advertising market.
Douglas Anmuth, analyst at Lehman Brothers said to The New York Times “It was a pretty good quarter. The gap is widening as they continue to dramatically outperform competitors.”
Yahoo reported company revenues had grown 12% in Q3.
Google chief executive Eric E. Schmidt said to analysts in a conference call that “It is obvious to us our model continues to work very well.”
Net income for the company grew to $1.07 billion from $733 million this time last year. Net revenue increased to $4.23 billion. Profit, excluding some items was $1.24 billion.
The growth was not only in dollars for the company this year. The company increased its employee force by 2,130 people this quarter; a much higher number than they had previously projected.
With the potential DoubleClick acquisition awaiting approval, and the interest in the wireless market, Google is well on its way to becoming the biggest brand in the world.
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