Google’s Q3 earnings exceed expectations

It's another bumper quarter with revenue up a third to $9.7 billion
Matthew Finnegan
Matthew Finnegan -

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The world may be on the brink of economic collapse, but there is one firm which is seeing its profits rise ever higher.

Google has just revealed its latest financial results for the third quarter, and the search giant has seen another massive bump to its profits with an increase in income of 26 percent to $2.7 billion in the three months up to September.

This followed revenues taking an even greater leap to $9.7 billion, a massive 33 percent increase during Q3.

It means another successful year for Google, which has also been seeing millions of users flock to its Google+ site, despite concerns that it was too late to join the social network fray.

In fact 40 million users have joined the site, although that’s some way off Facebook’s total of course. And some commentators have noted that after an initial massive upsurge of users when G+ went into open beta, traffic has fallen off quite considerably.

Still, it isn’t surprising that chief exec Larry Page said that it was a “great quarter”, as the company also saw its shares jump 6 percent on Wall Street last night.

For Page personally it has been another good result, thrashing market forecasts for the second time since taking over from predecessor Eric Schmidt.

Google has been busy expanding recently, and has also added almost 2,600 new staff to its empire in the third quarter, and has got its hand on some property in the heart of London’s Silicon Roundabout.

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