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Google sees 33% revenue increase in third quarter
Business digest: Technology giant continues to perform well despite looming global recession
GOOGLE has reported revenues of $9.7bn for the last quarter, a year-on-year increase of 33%, proving that the looming recession is yet to severely affect the tech giant and bolstering faith in new CEO Larry Page.
Net profits stood at $2.7bn, or $8.33 per share, in the three months from June to September. This was a 26% increase on the same period a year before. Without employee stock compensation costs, Google would have earned $9.72 per share.
Analysts had been bracing for a slowdown in the search engine's profits as a result of ongoing stock market turmoil. Google's stock prices climbed 6%, or $33.37, to $592.36 in extended trading as a result of the news.
Read a full report at The Daily Telegraph. ·
