Google Announces Third Quarter Financial Results

Evan Selleck - Oct 14, 2010, 3:00pm CDT
Google Announces Third Quarter Financial Results

Today, Google officially announced their third quarter results for 2010. As many probably expected, Google is still drawing in the money. In fact, it looks like the company has managed to beat analyst expectations for this quarter, in both revenue and earnings. Based on the announcement, Google has amassed $5.48 billion in revenue for this quarter.

The result is an overall revenue of $7.29 billion, which was an increase of 23 percent when compared to last year’s third quarter results. Google saw an increase of 16 percent in their paid clicks across the network of Google sites. The company’s net income was $2.17 billion, which is a 32 percent increase versus the last year’s net income of $1.64 billion. Google also announced that earnings per share were $7.64, which doesn’t include the effects of one-time costs, or stock-option compensation costs.

As of now, Google has $33.4 billion on cash-in-hand, marketable securities, and cash equivalents. Google also announced that they managed to hire 1,500 new employees during the quarter, which effectively raises Google’s employee count to 23,331. Google’s third quarter ended September 30th.

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