After seeing its stock rise above $600 per share not even two weeks ago, Google has exceeded forecasts by earning a profit of $1.07 billion in the third quarter of 2007, a 46% increase over the $733.3 million it earned during the same period in 2006. Sales have risen 57% to $4.23 billion.
The company is attributing the overall rise to the increasing profitability of search advertisements. Google’s stock has settled to about $639 since the announcement.
Google’s rival Yahoo, while recently reporting a 12% increase in revenue, hasn’t fared as well in terms of profit, which fell for them by 5% to $151.3 million in Q3.
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