Google posts huge profits

Internet tech specialist Google has reported third quarter profits of $2.2bn, which is 32 per cent up on the same period in 2009.

Sales for the period hit $7.63bn.

As a result of the numbers, which exceeded expectations, Google’s share price jumped nine per cent. 52 per cent of its revenue came from non-US markets.

Google’s AdSense program generated $2.2bn, up 22 per cent year-on-year, contributing 30 per cent of Google’s total revenue.

Google had an excellent quarter,” CEO Eric Schmidt stated. 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.”