Goog Profits Up Significantly In Third Quarter

Internet group Google (GOOG) on Thursday posted a net profit increase of over 32% for the third quarter, well above expectations at 2.167 billion dollars, accompanied by a turnover also better than expected, up 23%.

Based on the number of shares and excluding special items, earnings amounts to 7.64 dollars, while analysts had forecast 6.67 dollars.

The turnover reached 7.286 billion dollars.

CEO Eric Schmidt in a statement welcomed a “strong quarter”.

While some analysts had expressed concern in recent months the level of expenditure group, Mr. Schmidt has remained true to its strategy: “We remain committed to aggressively invest in both our employees and our products to continue our program innovation, “he said.

The group, which had on September 30 of $ 33.4 billion of cash, including promised “significant investment spending.”

On the expenditure side of operations, Google has increased its workforce by 1,500 employees during the quarter, now counting 23 334 employees.

Disappointed in previous quarters, this time the market seemed satisfied, and the action jumped from 5.78% to 574.70 dollars in electronic trading after the close of the NYSE.