Google’s third quarter results show a growth year on year of 70% – a slower rate than the virtual doubling we have seen in the past, however, from a larger base so a still considerable increase in activity.
Google is pleased with its progress outside the US – the share of the international revenue increased from 42% to 44% of turnover. As the overall growth rate was 70%, this means the growth outside the US is well in excess of the US-based turnover.
By my calculations, Google’s turnover outside the US has increased by 78% from $0.67 billion to $1.18 billion. This compares with a US growth of 65% (my calculation).
Investment gains from the sale of shares in Baidu amounted to around $23 million.
CEO, Eric Schmidt, commented:
Our third quarter results are a testament to the strength of our
network of advertisers and partners, as well as our continuing focus on
We were particularly pleased with the contributions of our international business in a
seasonally weaker quarter.
In addition, we continued to forge
significant partnerships with companies such as eBay, Fox Interactive
Media, and Intuit that will be of great value to all involved.
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Even more impressive is Googleâ€™s 92% increase in profits from the same quarter a year ago. Google earned $733 million in the quarter, up from $381 million a year ago.
Maybe they’ll take that money the got from the sale of those Baidu shares and use it to gain traction on Baidu in China. Wouldn’t that be ironic.