The Google train keeps on rolling. After seeing its stock rise above $600 per share not even two weeks ago, Google has exceeded forecasts by earning a profit of $1.07 billion in the third quarter of 2007, a 46% increase over the $733.3 million it earned during the same period in 2006. Sales have risen 57% to $4.23 billion.
The company is attributing the overall rise to the increasing profitability of search advertisements. Google’s stock has settled to about $639 since the announcement.
Google’s rival Yahoo, while recently reporting a 12% increase in revenue, hasn’t fared as well in terms of profit, which fell for them by 5% to $151.3 million in Q3.
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What was interesting is that International Revenue fell…well it stayed static but if it wasn’t for the decline in the USD it would have been down $121m. What is Google doing wrong outside of the US?
Why didn’t I buy this when it was $150! Way to go Google.
It’s music to the ears -and portfolio- even as a tiny-tiny GOOG shareholder.
The craziness is real!
Horatio Alger, eat your heart out.
I hope that soon they will increase the revenue on their adertisement program to help webmasters too to have some jump in their profit
Duncan - Maybe it’s not that Google is necessarily falling, but rather the international market is growing for non-US based companies and google may be facing a lot more competition in the international market.
Frog29,
Wrong article buddy.
Okn,
Frog29 is responding to Duncan’s comment.
Wrong repartee, buddy.
Google - the closest thing to printing legal tender! I am continually surprised by Google… will the bubble ever burst?
Jon
Such exponential growth must slow down eventually. I wonder what will happen to Google stock then.
The amazing thing is 99% of their revenue still comes from advertising! Just imagine what their earnings would be if they could monetize just a few of the plethora of initiatives they have in the pipeline.
Can someone fill me in on why they haven’t split yet?
Because a split does absolutely nothing Trace.
go goooogle….the big g always finds a way to profit…wouldnt be surprised if sergey and larry get closer to that top 10 richest soon in forbes…
http://www.techfiends.com
I think as long as Google are the number one search engine, they will continue to do well esp. from the ads that appear with the search. However, I think that if they were to lose that position then things may change but as it now I think they have tied up their search and ads very well but then there is also adSense which is possibly the best there is at the moment.
Are the guys involved in Google the smartest business minds ever. Talk about an idea for and of its time. Truly a phenomenal success. But will they ultimately go the way of Microsoft and be considered a necessary evil? I hope not as they are true innovators
Google is great at making money but I think it’s lack of management is going to hurt it. I think they have over hired engineers and have their hands in so many projects that they cannot effectively manage themselves. Wait till the ah wears off a watch the stock crash like a rocket. Not saying it will happen anytime soon, but I think we can all agree that it will happen.
I can sum up Google’s current business strategy in five words:
Today America, tomorrow the world!
imagine what their earnings would be if they could monetize just a few of the plethora of initiatives they have in the pipeline.
This really sounds cool to ears…
GOOGLE is Internet’s god and rule internet for long time