Google Profit Soars
As an active advertiser on Adwords, I have to take at least partial credit for Google's profitability:
Google Inc. on Thursday posted a quarterly profit nearly six times higher than a year earlier, blowing past Wall Street targets as search advertising grew rapidly.
The results sent shares of the Web search leader nearly 8 percent higher in after-hours trade to $219.88 on the Inet electronic brokerage. More consumers clicked on ads, more advertisers moved to the Web, and company costs fell, Google said.
"Outstanding is the only way to describe the results," said Robert Lutts, chief investment officer at Cabot Money Management Inc. "They have people all over the world clicking and paying." -- yeah, including me.
More from Reuters
Google Inc. on Thursday posted a quarterly profit nearly six times higher than a year earlier, blowing past Wall Street targets as search advertising grew rapidly.
The results sent shares of the Web search leader nearly 8 percent higher in after-hours trade to $219.88 on the Inet electronic brokerage. More consumers clicked on ads, more advertisers moved to the Web, and company costs fell, Google said.
"Outstanding is the only way to describe the results," said Robert Lutts, chief investment officer at Cabot Money Management Inc. "They have people all over the world clicking and paying." -- yeah, including me.
More from Reuters
posted by Dave @ 9:22 AM
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