Google reports profits up 32 percent in third quarter

Google reports profits up 32 percent in third quarter

2010-10-15 07:07:33 GMT+7 (ICT)

MOUNTAIN VIEW, CALIFORNIA (BNO NEWS) -- Google Inc. on Thursday announced that its third-quarter revenues increased by 23 percent compared to the same period last year.

The internet search giant reported that its net income rose to $2.17 billion during the third quarter, compared to $1.64 billion in the same period last year, topping expectations on Wall Street.

"Google had an excellent quarter," said Eric Schmidt, CEO of Google. "Our core business grew very well, and our newer businesses -- particularly display and mobile -- continued to show significant momentum. Going forward, we remain committed to aggressive investment in both our people and our products as we pursue an innovation agenda."

The Internet search giant said net revenue for the period ended in September rose to $5.5 billion. Excluding one-time items, Google said earnings for the quarter were $7.64 a share.

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