Google beats Wall Street forecast in Q3

Google beat analysts' expectations for revenue and earnings in its third quarter, helped in part by its international business

Google revenue grew 70 percent and earnings almost doubled in its third quarter, which ended Sept. 30, as the company continued monetizing its search engine services through online ads at a torrid pace.

Google generated revenue of US$2.69 billion, compared with US$1.58 billion in last year's third quarter, the company said Thursday. Subtracting the commissions it pays to Web sites that carry its ads, Google had revenue of US$1.865 billion, beating the consensus expectation of $1.815 billion from financial analysts polled by Thomson Financial.

Meanwhile, net income came in at US$733.4 million, or US$2.36 per share, up from US$381.2 million, or US$1.32 per share. On a pro forma basis excluding certain items, net income was US$812 million, or US$2.62 per share, also beating analysts' consensus expectation of US$2.42 per share.

Google executives are very pleased with the company's financial performance during the quarter, particularly with its international business, which generated 44 percent of all revenue, the company said in a statement.

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Juan Carlos Perez

IDG News Service
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