Friday, October 14, 2011

Google profits jump as users flock to Google

Revenues at the web search giant soared by a third to $9.7 billion in the three months to 30 September, as net profits grew more than a quarter to $2.7billion.
The figures beat analyst expectations and allayed fears that Google's recent hiring spree would take its toll on profits. The company, which recently announced plans for a new office in London, took on 2,585 new staff in the three-month period, taking its total headcount to 31,353.
Its results, released on Thursday night, offered a reminder of how Google is using its position as the internet's dominant gateway to build a business that weathers economic turbulence better than most companies.
They also highlighted Google's rapid expansion into new areas outside web search, and the seriousness of its challenge to Facebook as a social networking platform.

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