Friday, 26 October 2007

Google Enjoys Double Profit

Internet behemoth Google has reported impressive third quarter earnings with revenues of over 4.23 billion dollars—almost double that from what it reported a year ago, attributing its success to the growth in sales of keyword related advertising

The financials, which were reported for the quarter ending September 30, 2007, saw an increase of 57% compared to the third quarter of 2006 and an increase of 9% compared to the second quarter of 2007.

During a conference call, CEO Eric Schmidt described the results as “very pleasing” and “better than expected” in what was a rather seasonally weak quarter.

"Business is very, very good here at Google. We had an excellent quarter in all respects, especially in international," said Schmidt.

Google said its third quarter saw strong user growth, improvements in quality of search quality and increase in ad sales.