All the tech giants these days are posting their financial results and earnings for the third quarter. First, it was the chip maker giant Intel that made the air waves with a $11.1 billion third quarter revenue, following after that was Sony Ericsson that also posted a profit heavy third quarter financial result.
So it was time for search giant Google to post its financial results and it seems that Google is continuing it’s strive of piling up money beating the estimate of all the industry analysts and experts in its third quarter financial results. The net third quarter revenue excluding certain traffic acquisition cost that the search giant pays to its partners was almost $5.48 billion which have exceeded the estimates that the analysts posted in Yahoo finance online polls. The estimated revenue excluding the overheads was estimated at $5.25 billion for the third quarter. The overall revenue that the company has posted is $7.29 billion that has increased by 23 percent as compared to the last year’s third quarter result. This increase is on the back of paid clicks on Google’s network of web pages. Google’s chief financial officer in a conference call on Thursday made the announcement just after the results were posted that we are pretty pleased with our third quarter results and it is clearly evident that the digital economy is on a roller coaster ride. The net income was a total of $12.7 billion that marked a 32 percent increase compared to what the total income of last year was of a total of $1.64 billion.
Earnings per share have also increased excluding the on-time cost as compared to the last year. The analysts estimate that the share price was $6.67 but the actual cost was $7.64, revenue from both the Google constituents and Google owned sites AdWords ad, and Google sites on the network also increased by 22 percent. This huge revenue which the company has posted includes various factions of Google that have been performing exceptionally well on the financial front. YouTube’s monetary part has been in the construction for a very long time. Google on the official front still refuses to say that whether YouTube is money-making or not but company’s CEO Eric Schmidt has been saying repeatedly in the press that they expect Google to be profitable this very year. Rosenberg also revealed in the blog post that Google instant has not been so profitable since its launch and is rather more costly to run than the previous search result process used to be.
Well, this is not an understatement that Cash is King at Google and now it has a total of $33.4 billion in cash, marketable securities, and cash equivalents. The company employed around 1,500 new workers throughout this particular quarter.