Thursday, October 15, 2009

Google Smashes Numbers: Beats on Revenue as Well

It seems online advertising spending is making a comeback.

The figures released Thursday were highlighted by a $1.64 billion profit. That's the most money that the Mountain View, Calif.-based company has made during any three-month period in its 11-year history. Google earned $1.29 billion at the same time last year.

I think some of this profit came on the heels of cost cutting and other measures. Any way you slice these numbers they are pretty strong.

Revenue for the three months ending in September climbed 7 percent to $5.94 billion. That's Internet search leaders fastest growth rate so far this year.

This is the number I was looking for. This means that these insane profits numbers came because of ad spending gains and not just because of further cost cutting. This revenue growth may have even beat the whisper number of 5-6% growth as well. I think this Google number will be a big catalyst to extend this rally going forward.

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