Business

Google's numbers looking good in the third quarter
by Corina Ciubotaru

Google's third quarter results are out now and they are full of good news for the search company. They've surpassed Cisco Systems as the most valuable company in Silicon Valley and their results exceed all analysts' expectations. Even in a time when their number of employees rose like never before in such a short while, Google managed to make $1.07 billion in profit after taxes, compared to $733.4 million in the same period last year. The company's stock price rose by $100 during the past month and ended Tuesday at $639.62, followed by a rise of $7.38 in after-hours trading. Revenues amounted to $4.23 billion, a 57 percent jump as more companies turn to the Internet rather than other types of advertising. Google has also managed to increase the difference between it and its next competitor in the online search market Yahoo, which is currently handling four times less searches and whose employees generated half as much revenue during the first nine months of this year and roughly six times less profit. For the future, Google's most well-known plan is to buy online ad broker Double Click for $3.1 billion. The purchase is currently under revision by antitrust commissions in the E.U. and the U.S. and under heavy criticism by privacy advocates, since it would give Google access to an enormous tank of information about Internet users. The deal was expected to close by early 2008 but it now all depends on the antitrust investigation; Google has always stated its involvement in keeping user information private, this privacy being one of the company's key parts of the business model.

related story: http://news.yahoo.com/s/ap/20071018/ap_on_hi_te/earns_google;_ylt=Arxf07QuVMJtV.IsnbDDgSGs0NUE

by Corina Ciubotaru for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 3:34 PM