Thursday, October 16, 2008

Google Earnings Out; Stock Soars

Google said third-quarter profit climbed 26 percent as more customers used Web search ads.

Net income rose to $1.35 billion, or $4.24 a share, from $1.07 billion, or $3.38, a year earlier, accordng to Google.

Excluding revenue passed on to partner sites, sales expanded to $4.04 billion, compared with the $4.05 billion average estimate. Total revenue climbed 31 percent to $5.54 billion.

Google stock rose $36.98, or 10 percent, to $390 in extended trading after closing at $353.02 on the Nasdaq Stock Market.

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