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| Thursday, October 19, 2006 |
Google profit jumps, gross revenue up 70 percent
- Google Inc. said on Thursday quarterly profit rose 92 percent as the company tightened its grip on the Web search market.
Net income for the third quarter grew to $733.4 million, or $2.36 per diluted share, compared with the year-earlier quarter's $381.2 million, or $1.32 per share.
Gross revenue rose 70 percent to $2.69. Excluding traffic acquisition costs of $825 million, the financial cut which affiliated Web sites receive for featuring Google advertising, revenue rose to $1.87 billion.
Analysts had been looking for a net profit, on average, of $2.13 per share, according to Reuters Estimates. Excluding stock-based compensation and amortization, the consensus forecast was for a profit of $760.1 million, or $2.41 a share.
Wall Street analysts on average had projected revenue, excluding what Google pays to Web site affiliates, to rise 66 percent from the year earlier to $2.62 billion, according to Reuters Estimates. Forecasts ranged between $2.48 billion and $2.76 billion. |
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