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 by Staff Writers San Francisco (AFP) Oct 13, 2011
Google on Thursday reported that its profit in the recently ended quarter climbed to $2.73 billion on the wings of soaring online advertising revenue. "We had a great quarter," said Google co-founder and chief executive Larry Page. "Revenue was up 33 percent year on year and our quarterly revenue was just short of $10 billion," he added. Google took in $9.72 billion in revenue in the quarter that ended September 30, with the bulk of the money being raked in at online properties owned by the Northern California-based Internet powerhouse. Google stock price jumped more than five percent to $588.50 a share in after-hours trading that followed release of the earnings report. The performance topped expectations of Wall Street analysts.
The Economy
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