Google back to wowing Wall Street
Profits pumped 46 per cent
Google still has a knack for wowing Wall Street.
Today, the world's largest search engine announced profits of $1.07bn for the financial quarter ending September 30, a 46 per cent year-over-year increase that exceeded the expectations of Wall Street analysts.
Meanwhile, Q3 revenue hit $4.34bn, a 57 per cent jump from the same quarter last year. "We're very pleased with our strong results, especially during one of our seasonally weaker quarters," said CEO Eric Schmidt during a conference call with analysts.
This marks a return to form for the Mountain View, CA web giant. When the company announced its Q2 results this past July, profits weren't quite as sky high as Wall Street had hoped. But Q3 marks the 11th time in the past 13 quarters that Google has topped what all those analysts were expecting. That dates all the way back the company's initial public offering in 2004. ®