Google earnings higher than predicted: share price surge
Good news for Google (GOOG) after huge speculation as to how well it is doing with share prices taking a few knocks, adding to the concerns from investors and analysts as to a slowdown in on-line advertising surprisingly Google posted third quarter revenue excluding traffic acquisition costs of $4.04 billion.
Overall revenues up 31 percent year over year with total revenue at $5.54 billion. TAC was $1.5 billion or 28 percent ad revenue which is consistent with Quarter 2.
Google sites revenue was $3.67 billion which is up 34 percent year over year and 4 percent in succession. Looking over at Google partner sites total revenue was $1.68 billion making this a 15 percent increase year over year and 1 percent gain on the year earlier.
International revenue was at $2.85 billion which counts for 51 percent of total revenue. Paid clicks shot up 18 percent from the year previous, and saw a 4 percent gain a year earlier. Analyses predicted $4.06 billion in revenue and profit of $4.76 a share. Google posted profits of $4.92 a share.
Trading on October 16 after hours Google shares (GOOG) have surged 14.7 percent or $49.73 to $388.90