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Google Search Finds $1B Profit

Massive boost in weakest quarter

By Peter Fearon,  Newser Staff

Posted Oct 19, 2007 12:42 AM CDT
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(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.

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 time Monday, Oct. 8, 2007, extending a rally that has elevated the Internet search...
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)
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)
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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The Money Machine

Google Profits top $1 Billion
New York Times

Google in money-making juggernaut
Guardian (UK)

 
Google • NASDAQ • Eric Schmidt • profit growth • search advertising • partner website • Chief Executive • Youssef Squali • Jefferies and Co • ad brokering

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