Google released its financial report for the third quarter on Thursday, showing a rise of 36.2% in profits, driven by the boosted profits through advertising.
Google shares advanced 8% to a new record high, just below the $1,000 barrier by $40. With the three-month period ending September 30, the Internet search giant company reached a net income of $2.97 billion in the third quarter, up from $2.18 billion recorded in the previous year. Earnings per share reached $8.75 on 339 million diluted shares outstanding rising from last year record of $6.53 on 333 million diluted shares outstanding.
Google sites revenues edged 22% higher to $9.39 billion, paid clicks climbed to approximately 26% year-on-year and 8% higher over the second quarter.
However the average cost-per click edged 8% lower from the same period a year ago and approximately 4% over the second quarter this year.
“Google had another strong quarter with $14.9 billion in revenue and great product progress,” said CEO Larry Page. “We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device,” he added.
Approximately 40% of the traffic that leads to YouTube, occurs on mobile devices, Larry Page commented.
Google – Motorola
Motorola mobile segment revenue (which was bought by Google in 2011) recorded a drop of $248 million of Motorola in the third quarter, compared to the previous record of a 192 million loss or -11% of Motorola Mobile segment revenues in the third quarter in the previous year.
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