More than successful third quarter for Google Inc thanks to its advertising business by Zuzana Zelenakova

In 1998, two Ph.D. candidates sttending Stanford University Larry Page and Sergey Brin most probably did not even imagine what a success the company they had just founded would become. Multinational corporation focusing on Internet search, advertising Technologies and other has become a phenomenon of unprecedented extent. For millions, i tis an actual gateway to the content stored on the Internet. Recent history of the company indicates sustained growth and the latest third quarter sales and profit report only confirmes that. The company´s advertising business led to 25 percent growth in net revenue in the third quarter. "This is the best performance they've had in th! ree years. We're back to the old Google we know and love," said RBC Capital Markets analyst Ross Sandler. "Clearly search is holding up better than anyone expected," he added. To be exact, Google reported revenues of $7.29 billion in the quarter ended September 30, 2010. "Google had an excellent quarter," said Eric Schmidt, CEO of Google. "Our core business grew very well, and our newer businesses -- particularly display and mobile -- continued to show significant momentum. Going forward, we remain committed to aggressive investment in both our people and our products as we pursue an innovation agenda." The financial reports results the company´s shares jump 9 percent. Lately, Google has been acquiring new companies as crazy, mostly in an attempt to make a breakthrough into social gaming and networking. It bought more than 20 companies. Also, more than 1,500 new employees were hired and so the operating expenses rose to $2.19 billion, as compared to $1.64 last year. ! "Looks like business is solid across the board. The biggest co! ncern fo r investors was expenses. Given the EPS number, it looks like margins have to be better than what the Street was expecting," said UBS analyst Brian Pitz. .

related story (sgx18419): http://news.yahoo.com/s/nm/20101015/tc_nm/us_google...

by Zuzana Zelenakova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.