Google Profits Surpass Expectations

22 October 2007

MOUNTAIN View, California: Google has beaten analysts' forecasts and posted a 46% climb in third-quarter profits to £1.07 billion (€749m; £522m). The online giant's revenues soared 57% to $4.23bn.

Commented ceo Eric Schmidt: "Our efforts to offer more products and services in international markets, as well as effectively grow our technology infrastructure and add to our deep talent base during the quarter, helped to deliver growth by enabling Google to reach more users around the world."

While Sanford C Bernstein analyst Jeffrey Lindsay declared: "It's an amazing business performance for a company of that magnitude to sustain those levels of growth . . . Google improved on all fronts we were hoping it would improve on."

The company says 48% of its revenues came from outside the US, compared with 44% a year ago.

Google's dominance of the web search market continues unabated. Research group comScore's September figures show it had 57% of US searches, compared with 23.7% for nearest rival Yahoo.

Data sourced from Wall Street Journal Online; additional content by WARC staff