Google Search Finds $1B Profit

Massive boost in weakest quarter

By Peter Fearon, Newser Staff

Posted Oct 19, 2007 12:42 AM CDT

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Google Search Finds $1B Profit — Google CEO Eric Schmidt gestures during a talk to the Seach Engine Strategies conference in San Jose, Calif., in this Aug. 9, 2006 file photo. Google Inc.'s stock price sailed past $600 for the first time Monday, Oct. 8, 2007, extending a rally that has elevated the Internet search leader's market value... (Associated Press)

Google's search for profit growth produced a 57% jump in revenue and a 46% increase in profits to $1B in the third quarter. The Wall Street Journal reports the boost in net income came from its core search-advertising business, as well as its brokering of ads that appear on partner Web sites. Shares have risen 39% so far this year.

"We're very pleased with such strong results in what's seasonally one of our weaker quarters," said Chief Executive Eric Schmidt. "We have a lot more technology that is in the pipeline." "Looks like this well-oiled machine will continue to impress for some time to come," said one analyst. (More profit growth stories.)

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