- ‘Tis the Season: London florist creates $4.6 million Christmas wreath
- No tailgating allowed at Super Bowl XLVIII
- Pentagon to transport African troops to Central African Republic
- Chinese man fed up with his girlfriend’s shopping jumps to his death
- Ukraine leader to talk with protesters; Washington urges caution
- Pope Francis: A nun saved my life
- Israeli P.M. Netanyahu backs out of Mandela funeral
- Elian Gonzalez makes first trip outside Cuba since custody battle
- U.S., British intelligence agents enter online sci-fi world to spy on gamers
- Sarah Palin to host the outdoors show ‘Amazing America’
Google 3Q net income jumps 32 percent
SEATTLE (AP) - Google Inc.’s third-quarter earnings climbed 32 percent to beat Wall Street’s expectations as companies spent more to advertise to Web surfers.
The Web search leader clocked an impressive performance despite adding 1,500 workers in the quarter, for a total of 3,500 new employees so far this year. Google also spent more than four times as much on data centers and other equipment than it did a year ago.
Investors sent shares of Google jumping more than 9 percent, to $590.60, in extended trading after the release of results Thursday.
Google said its average cost per click rose 3 percent from a year ago, meaning companies paid more to place ads. People clicked on ads 16 percent more than they did in the same period last year.
For July through September, the Web search leader’s net income rose to $2.2 billion, or $6.72 per share, from $1.6 billion, or $5.13 per share, a year earlier.
Excluding certain expenses, Google earned $7.64, topping the $6.69 analysts expected.
Revenue rose 23 percent to $7.3 billion from $5.9 billion a year earlier. After subtracting commissions paid to its ad partners, Google’s revenue stood at $5.5 billion, about $200 million more than analysts predicted, according to a Thomson Reuters survey.
Google’s capital expenditures _ what it pays for data centers, servers and networking equipment to keep its growing number of Web services online _ increased to $757 million from $186 million a year earlier.
The company, which is based in Mountain View, Calif., indicated it would keep hiring and spending.
“Our core business grew very well, and our newer businesses _ particularly display and mobile _ continued to show significant momentum,” said CEO Eric Schmidt in a statement. “Going forward, we remain committed to aggressive investment in both our people and our products as we pursue an innovation agenda.”
Before the release of results, shares closed down $2.37 at $540.93.
By Tom Fitton
New photos confirm the attack's coordination and its cover-up
- Chinese man fed up with his girlfriend's shopping jumps to his death
- Israeli P.M. Benjamin Netanyahu backs out of Nelson Mandela funeral
- FITTON: A closer look at the Benghazi lie
- Obama lied about Syrian chemical attack, 'cherry-picked' intelligence: report
- 'Dude, I'm dreading that I will have to go': Czech prime minister on Mandela funeral
- Lawmakers see 'false narrative' of Obama as a terrorist fighter
- Ted Cruz sees legal landmines ahead for Obamacare
- Bill OReilly reminds: Nelson Mandela was a communist
- MSNBC host: Obamacare a 'wealthy white men' racist word
- CURL: Obama tells a whopper on IRS scandal
Independent voices from the The Washington Times Communities
The Constitution: Every issue, every time. No exceptions, no excuses. And how to get from here to there.
Crystal Wright is a black conservative woman living in Washington, D.C.
All of the world’s problems, solved on your back porch
Why can’t humans just be free to be humans?
White House pets gone wild!
Let it snow