Brief: Google Shares Surge Day After Stellar Financial Report - InformationWeek

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Brief: Google Shares Surge Day After Stellar Financial Report

Google stock surged nearly 8% the day after the company reported almost a doubling of profits in the third quarter.

Google Inc. stock surged nearly 8 percent on Friday, a day after the company reported almost a doubling of profits in the third quarter.

At the end of regular trading on the Nasdaq stock exchange, Google was up $33.61, or 7.89 percent, to $459.67 a share.

The Mountain View, Calif., company on Thursday reported that profits soared to $733 million in the quarter ended Sept. 30 from $381 million during the same period a year ago. Revenues jumped 70 percent to $2.69 billion.

The results reflected Google's success at increasing online ad revenues from its own properties, as opposed to relying on sites that comprise its AdSense partner network. Revenues from Google-owned sites were up 84 percent year over year to $1.63 billion. Revenues from partner sites increased 54 percent to $1.04 billion.

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