Search Engine leader and leading online web advertiser Google has surpassed expectations in the third quarter, when revenue climbed 23 percent and net income rose 32 percent.
Google now bets big on mobile. “Where’s the next multibillion-dollar business after search?” said Jonathan Rosenberg, senior vice president of product management at Google, on the call. “There’s your answer. It’s display and it’s already here.” About mobile, he said, “Clearly this is the future of search and the Internet.”
Google said net income in the quarter ending Sept. 30 rose to $2.17 billion, or $6.72 cents a share, from $1.64 billion, or $5.13 a share, in the year-ago quarter. Excluding the cost of stock options and the related tax benefits, Google’s third-quarter profit was $7.64 a share. The company said revenue climbed to $7.29 billion, from $5.94 billion. Net revenue, which excludes commissions paid to advertising partners, was $5.48 billion, up from $4.38 billion a year ago.
The results beat the expectations of Wall Street analysts, and Google’s stock price rose about 9 percent in after-hours trading.
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