Google profits lifted by new ventures
Published 15/10/2010 | 09:36
Search engine giant Google has highlighted the success of its emerging businesses after beating analysts' forecasts with a 32pc jump in profits.
The tech giant posted net income of $2.2bn (€1.5bn) after revenues rose 23pc to $7.3bn (€5.1bn) in the third quarter of the year.
Google said its core business grew very well, while its newer businesses continued to show significant momentum.
Text links placed above or alongside search results are still Google's main source of revenues, but the company has also invested billions on image-based display adverts, as well as ads inside web videos and mobile phones.
The company recently paid $3.2bn for DoubleClick, a display ad network, and $681m for mobile-ad firm AdMob.
Google said sales of its display ads, which include those on YouTube, were on a pace that would translate to revenues of $2.5bn annually. Its mobile advertising businesses are set to bring in one billion dollars a year, the company added.
The California-based firm recruited 1,500 new staff in the quarter, meaning it has taken on 3,500 new employees so far this year.