Google profits double - PC Retail

Google profits double

The colossal Internet firm has announced that third quarter earnings have almost doubled.
Author:
Publish date:
7_CPW_InStore_CouchLaptop.jpg

Following soaring advertising sales and the recent acquisition of video clip site YouTube, Google’s profits reached £390 million for the three months up to the end of September, compared with the same period last year.

The figures, which represent a 92 per cent increase, have exceeded market expectations – and it seems those of Google itself: "Business is very, very good here at Google," said Eric Schmidt, the firm’s chief executive. "I am pretty amazed. I did not expect us to do as well as we did."

The profits push Google even further ahead of competitors Yahoo, MSN and Ask. According to industry figures, Google leads with a 45 per cent US search market share, with Yahoo a distant second at 28 per cent.

"The difference between Google and the second and third place players has become enormous," said Trip Chowdhry, analyst at Global Equities Research. "This definitely shows that Google is going to own the next generation of the computing environment."

Related