Friday, October 21, 2005

Profit Rises Sevenfold at Google - New York Times

Profit Rises Sevenfold at Google - New York Times: "Google earned $381 million, or $1.32 a share, in the third quarter, up more than sevenfold from its $52 million, or 19 cents a share, a year ago. Last year's results were depressed by a $201 million noncash charge related to settling a patent dispute with Yahoo.
Google shares rose about 10 percent after the announcement, which was at the end of regular trading. In after-hours trading, shares hit $335, a record, up from the $303.20 closing price in regular trading.
Mr. Schmidt said the strong growth did not come from more users, as traffic slowed in the summer, but from Google's growing ability to earn more money from Internet searches. "

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