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Google's Quarterly Profit Up 46%
Thursday, October 18, 2007
By now you have no doubt seen the reports that Google's quarterly earnings were up 46%. This, a result of tighter budget control and increasing market share by th search giant. Google just keeps making money. According to Reuters:

Shares of Google rose about 1 percent. The stock climbed to $645.18 from a close of $639.62 on Nasdaq.

Wall Street was looking for a net profit, on average, of $3.22 per share, according to Reuters Estimates. Excluding one-time items and stock compensation costs, the average analyst estimate was $3.77 per share.

Overall third quarter profit climbed to $1.07 billion. Google reported that revenues in the third quarter were $4.23 billion, up 57 percent from a year ago. Even with the great numbers there are still analysts that say this is not "mind-blowing" as some predicted a share price as high as $4.04 per share. Google (GOOG) came in at around $3.38 per share with the 46% increase. A classic case of "what have you done for me lately?"

CNN Money on Google Profit Increase

View the webcast of Google's Q3 earning report here.

In other trading news, Bank of America (BAC) posted a nearly 32% (31.7% to be exact) loss in profit for the third quarter versus 2006. Shares of the company fell $1.30, or 2.6%, to $48.73.

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posted by Jody @ Thursday, October 18, 2007  
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