Google’s Profits On The Rise
Fresh from purchasing YouTube.com for $1.6 Billion and Google can still relax with the recent results of Google Inc.’s third-quarter profit showing that they have nearly doubled their profits.
The results, released late Thursday, lifted Google shares by nearly 8 percent — an upturn that translates into about $10 billion in additional stockholder wealth.
The performance surpassed analyst estimates by a whopping 20 cents per share and underscored the Mountain View-based company’s widening advantage over its main Internet rivals.
Yahoo Inc., which runs the Internet’s second largest advertising network behind Google, has been hurt by slowing revenue growth most of this year — a problem that contributed to a 38 percent drop in its third-quarter profit.
“The difference between Google and the second and third place players has become enormous,” Global Equities Research analyst Trip Chowdhry said. “This definitely shows that Google is going to own the next generation of the computing environment.”
Source & More: CNN
Posted in Google, Technology