Google profit climbs on rising revenue

Oct 14, 2011 |

San Francisco

Tags:

Google

Google on Thursday reported that its profit in the recently ended quarter climbed to $2.73 billion on the wings of soaring online advertising revenue.

"We had a great quarter," said Google co-founder and chief executive Larry Page. "Revenue was up 33 percent year on year and our quarterly revenue was just short of $10 billion," he added.

Google took in $9.72 billion in revenue in the quarter that ended September 30, with the bulk of the money being raked in at online properties owned by the Northern California-based Internet powerhouse.

Google stock price jumped more than five percent to $588.50 a share in after-hours trading that followed release of the earnings report.

The performance topped expectations of Wall Street analysts.

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