Google earnings up despite weakening economyInternet Internet
Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the search giant Google (Google, Mountain View, CA, www.google.com) The largest search engine on the Web, founded by Larry Page and Sergey Brin, two Stanford University students. In 1996, they developed their "BackRub" search engine, named after its unique page ranking method (explained below). reported a 26-percent increase in third-quarter earnings on Thursday, beating the expectations of Wall Street analysts despite the weakening weak·en
tr. & intr.v. weak·ened, weak·en·ing, weak·ens
To make or become weak or weaker.
weaken·er n. US economy.
Net profit rose 26 percent in the third-quarter from the same period last year to 1.35 billion dollars while revenue was up 31 percent at 5.54 billion dollars, the Mountain View, California-based company said in a statement.
Google reported earnings per share of 4.92 dollars, more than the forecast of 4.76 dollars per share.
"We had a good third quarter with strong traffic and revenue growth across all of our major geographies thanks to the underlying strength of our core search and ads business," Google chief executive Eric Schmidt said.
"While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term, driving improvements to search and ads, while also investing in future growth areas such as enterprise, mobile, and display," Schmidt added.
Google's share price soared 8.16 percent in after-hours trading after-hours trading
The trading of securities after the exchanges are closed. After-hours trading often refers to trading a listed security in the over-the-counter market after the exchanges have been closed for the day. in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of to 381.83 dollars after having gained 4.08 percent during the day on Wall Street.