After Yahoo surprised pretty much everyone with some solid Q3 numbers this week, Google followed suit on Thursday by making the latter company's 12 percent growth seem downright amateurish.
On Thursday, the Mountain View company posted revenues of $4.23 billion for the quarter, a 57 percent year-over-year increase. Net income was equally impressive for Q3, coming in at $1.07 billion compared to $925 million one year ago. Understandably, CEO Eric Schmidt was quite pleased with these results and attributed the company's enormous gains to -- what else? -- the continued success of its ad business.
"Our core search advertising business experienced continued momentum driven by growth in monetization and traffic, and we are creating a wider and deeper ads system through our focus on innovation, bringing more ad formats to our advertisers," Schmidt said in a statement.
Schmidt also touted Google's ongoing efforts to expand into international markets with more products and services as being key to the company's continued monetary triumphs.
You'd think with the stock price moving up by more $100 during the past month alone, analysts would just throw in the towel at this point…maybe even quote a few nonsensical figures in their forecasts (frooglepoopillion in Q4 revenue?). Indeed, Google has exceeded these "analyst estimates" in all but two of the 13 quarters since its 2004 IPO. And my guess is that it will continue to do so until we all get serious about those imaginary standards.
Photo: 10e20.com
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