I think it’s now clear that AdSense is the most efficient advertising/media business ever created. Google Q3 numbers are stunning… in fact, mindblowing.
Google Inc. reported that its earnings nearly doubled and revenue soared 70% in the third quarter, a sign that the Web-search giant continues to gain market share as more advertisers shift their spending to the Internet. Shares jumped 9% after hours.
The Mountain View, Calif., company reported a net income of $733.4 million, or $2.36 a share, compared with $381.2 million, or $1.32 cents a share, a year earlier. Revenue rose 70% to $2.69 billion from $1.58 billion a year earlier. Excluding the payments Google makes to acquire Internet traffic, sales rose 79% to $1.86 billion.
Google said its operations outside the U.S. are playing a greater role in driving growth at the company. Non-U.S. sales contributed 44% of total revenue in the third quarter, compared with 39% a year earlier.
The company added 1,436 employees during the period, ending September with a total of 9,378 full time employees.