LIVE: Google Beats Q3 Earnings Expectations
15.10.09
Palpable: Google Beats Q3 Earnings Expectations
Posted by: Rob Hof on October 15
Google best third-quarter earnings expectations easily, posting a 7% rise in net revenues excluding payments to advertising partners, to $4.38 billion. Profit was $5.89 a parcel, handily beating forecasts.
Google had been expected to earn $5.40 a deal on $4.23 billion in net revenues excluding payments to advertising partners, up from $4.92 a allocate on $4.04 billion in revenues a year ago.
“Google had a strong quarter — we saw 7% year-over-year interest growth despite the tough economic conditions,” Google CEO Eric Schmidt said in a expression. “While there is a lot of uncertainty about the pace of economic recovery, we believe the worst of the depression is behind us and now feel confident about investing heavily in our future.”
Google’s dominance of search advertising, with upwards of 75% of search ad revenues, means its results may be together. But its quarterly results confirm that the slow recovery Google executives have been reporting recently is starting to pick up. That may mooring-buoy hopes for a wider range of players dependent on online ads, from Yahoo to Microsoft to many Web startups.
Source: BusinessWeek