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Google's profits lifted by higher advertising revenues | Google's profits lifted by higher advertising revenues |
(40 minutes later) | |
Google's latest quarterly results have beaten market expectations after it posted a 32% rise in profits. | Google's latest quarterly results have beaten market expectations after it posted a 32% rise in profits. |
The internet giant made a net profit of $2.17bn (£1.4bn) in the three months to 30 September, up from $1.6bn for the same period a year earlier. | The internet giant made a net profit of $2.17bn (£1.4bn) in the three months to 30 September, up from $1.6bn for the same period a year earlier. |
Google thanked higher advertising revenues, but also the success of its newer businesses, such as its Android mobile phone operating system. | Google thanked higher advertising revenues, but also the success of its newer businesses, such as its Android mobile phone operating system. |
Its overall revenues were up 23% to $7.29bn. | Its overall revenues were up 23% to $7.29bn. |
Google chief executive Eric Schmidt said the company had enjoyed "an excellent quarter". | Google chief executive Eric Schmidt said the company had enjoyed "an excellent quarter". |
He added: "Our core business grew very well, and our newer businesses - particularly display and mobile - continued to show significant momentum. | He added: "Our core business grew very well, and our newer businesses - particularly display and mobile - continued to show significant momentum. |
"Going forward, we remain committed to aggressive investment in both our people and our products as we pursue an innovation agenda." | "Going forward, we remain committed to aggressive investment in both our people and our products as we pursue an innovation agenda." |
When Google's second quarter results missed Wall Street estimates back in July, some analysts raised concerns about how much money the firm was spending to continue to grow the business. | |
This spending has now increased further - with its operating expenses totalling $2.2bn in the third quarter, up from $1.64bn a year ago. | |
However, this expenditure is once again being more than offset by the rise in revenues and profits. | |
Google said 16% more computer users clicked on advertisements on its website during the past three months than they did a year earlier, and that it was charging companies more to list their adverts. | |
Analyst Colin Gillis of BGC Partners, said: "Clearly their earnings look good. Top line is healthy, expense controls are good." |
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