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Google’s third-quarter profits nearly doubled from last year as revenues increased 70 percent, reflecting its growing advantage over rivals. Google’s results were in stark contrast to those of closest online-advertising rival Yahoo, which earlier this week reported a 38 percent drop in third-quarter profit.
Google announced on Thursday that it earned $733.4 million, or $2.36 per share, in the third quarter, 92 percent more than the year-ago quarter’s $381.2 million, or $1.32 per share, reports the Associated Press (via MarketingVox). Excluding employee stock compensation expenses, Google would have earned $2.62 per share, 20 cents more per share than analysts’ expectations.
Third-quarter revenue totaled $2.69 billion, a 70 percent increase from $1.58 billion in 3Q05. After deducting commissions paid to ad partners, revenue totaled $1.86 billion, or about $50 million more than analysts’ expectations.
Google said 60 percent of ad revenues came from its sites, and 39 percent from its AdSense partners, writes the Mercury News. In 3Q05, Google said 56 percent of its advertising came from its own sites. International revenues constituted a greater proportion of Google’s sales, increasing to 44 percent in the third quarter, up from 39 percent for the same period in 2005.
Google share passed the $454 mark in after-hours trading, after gaining $6.75 to close at $426.06 before the release of the third-quarter results.
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