I wish i had those amount of Money to invest in Google too…Gosh…its getting better guys…Introducing Gigantic “GOOGLE”
After U.S. markets closed Thursday, Google (GOOG) 549.31, -0.54, -0.10%) said net income in the quarter ended Sept. 30 rose to $1.64 billion, or $5.13 a share, from $1.29 billion, or $4.06 a share, in the same period last year. Net revenue rose to $4.38 billion from $4.04 billion.
Excluding special items, the company said earnings for the quarter were $5.89 a share.
Analysts polled by Thomson Reuters had expected Google to post earnings excluding items of $5.42 a share, and $4.24 billion in net revenue.
"Google was the first to see the downturn and the first to see the recovery for online advertising," Brigantine Advisors analyst Colin Gillis told clients in a note published Friday.
Google Chief Executive Eric Schmidt said in a conference call with analysts late Thursday that, "We're very, very happy," adding, "the worst of the recession is clearly behind us."
Shares of Google rose $21.10 to $551.01.
Google said its paid clicks, or number of times users clicked on its online advertisements and generated revenue, grew 14% compared to the same period last year, and 4% compared to the prior period.
However, the average price paid by advertisers per click fell 6% compared to the period last year, while increasing 5% over the prior period.
Ready to hire again
Pichette said during the conference call that because the company anticipates better economic conditions, it will be "accelerating hiring across the organization."
Pichette declined to specify any particular goals for hiring, saying only that there is no specific quota, as "you have to find the right Googler."
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