Google's earnings soar 400 percent | Search Engine News from Rank for $ales

Google's earnings up 400 percent

July 21, 2005

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After today's market close, Google said its quarterly earnings soared 400 percent, fueled by strong growth in its online search advertising revenues.

Google delivered second-quarter net profits of $342.8 million, or $1.19 a share.

The company, which has been publicly held since mid-August 2004, had a net profit of $79.1 million, or 30 cents per share, in the year-earlier period.

Shares of Google rose initially in extended trading on the Inet electronic brokerage network, then fell to $305.25 from its Nasdaq close of $313.94, a record high close.

Its revenue, which comes almost exclusively from Web search advertising, was $1.38 billion, nearly double the $700.2 million in the year-ago period.

Analysts forecast net earnings on average of $1.12 per share, within a range of 98 cents to $1.27, according to Reuters Estimates. Revenue was estimated at $1.32 billion.

Source: CNN fn

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