Google Returns to Form with 32% Increase in 3Q Profit
After a relatively disappointing second quarter, Google has got its game back after announcing sterling third quarter financial results. Display ads on videos and mobile ads appeared to be growing nicely and better than expected, leading to a 9% jump in Google's stock prices after the announcement.
AP - SEATTLE (AP) — Google Inc.'s third-quarter earnings demonstrated that the Internet search leader is capable of surpassing investors' short-term expectations while still investing heavily in long-range projects. Google reported a 32 percent jump in net income Thursday and provided the most persuasive evidence yet that its past investments are paying off, helping it diversify away from search advertising. Wall Street was encouraged, and sent Google's shares soaring 9 percent to $590.01 in extended trading after the release of results.
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