Google boosts net 27% on higher sales

Robert Clark
16 Oct 2009
Daily News

Google boosted net income 27% in the third quarter thanks to stronger ad sales, the company said.

CEO Eric Schmidt said while the pace of economic recovery was uncertain, “we believe the worst of the recession is behind us and now feel confident about investing heavily in our future.”

The company reported 7% higher revenues of $5.94 billion, of which $3.1 billion came from outside the US. By comparison, Q2 sales were up just 3%.

With earnings per share of $5.13, the results were well ahead of analysts’ expectations of adjusted income of $5.40 a share on net revenue of $4.23 billion.

Google’s stock on Nasdaq was up 3.23% to $547 in after-hours trading.

Related content

No Comments Yet! Be the first to share what you think!