Google Earnings Surged More Than Sevenfold
- By Tariq Ali
- Published 10/20/2005
Google's third-quarter earnings surged more than sevenfold despite a slow summer season. Shares went as high as $311 but closed down $5.50.
Google said earnings for the quarter were $381.2 million, or $1.32 a share, compared with a profit of $52 million, or 19 cents a share in the year-ago quar
ter. Total revenue reached $1.58 billion, up 96% from $805.9 million last year.
"Although this is typically a slower season for Internet properties, we had another exceptional quarter," said Google Chief Executive Eric Schmidt.
Google remains the dominant player in the search market. It accounted for 45% of all search queries in September, compared with 12% for MSN and 23% for Yahoo, according to Nielsen/NetRatings.
Google said earnings for the quarter were $381.2 million, or $1.32 a share, compared with a profit of $52 million, or 19 cents a share in the year-ago quar
"Although this is typically a slower season for Internet properties, we had another exceptional quarter," said Google Chief Executive Eric Schmidt.
Google remains the dominant player in the search market. It accounted for 45% of all search queries in September, compared with 12% for MSN and 23% for Yahoo, according to Nielsen/NetRatings.
