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August 29, 2008 10:37:04 PM CDT

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Google Search Finds $1B Profit

Posted Oct 19, 07 12:42 AM CDT in Technology,  Business 

(Newser) – Google's search for profit growth produced a 57% jump in revenue and a 46% increase in profits to $1B in the third quarter. The Wall Street Journal reports the boost in net income came from its core search-advertising business, as well as its brokering of ads that appear on partner Web sites. Shares have risen 39% so far this year.

"We're very pleased with such strong results in what's seasonally one of our weaker quarters," said Chief Executive Eric Schmidt. "We have a lot more technology that is in the pipeline." "Looks like this well-oiled machine will continue to impress for some time to come," said one analyst.

Source Wall Street Journal

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Google CEO Eric Schmidt gestures during a talk to the Seach Engine Strategies conference in San Jose, Calif., in this Aug. 9, 2006 file photo. Google Inc.'s stock price sailed past $600 for the first...   (Associated Press)
A Google sign inside Google headquarters in Mountain View, Calif., June 18, 2007. Google Inc. reports earnings for the fiscal third quarter on Thursday, Oct. 18, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
The exterior of Google headquarters in Mountain View, Calif. is seen Tuesday, Oct. 16, 2007. Google Inc. reports earnings for the fiscal third quarter on Thursday, Oct. 18, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
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