SAN FRANCISCO (AP) — Google’s third-quarter earnings show that the mounting worries about another global recession so far haven’t shaken the Internet’s search and advertising leader.
The results released Thursday are the latest reminder of how Google has used its position as the Internet’s dominant gateway to build a business that weathers economic turbulence better than most companies.
Google Inc. made $2.7 billion, or $8.33 per share, in the three months ending in September. That was up 26 percent from nearly $2.2 billion, or $6.72 per share, at the same time last year.
If not for expenses covering employee stock compensation, Google would have earned $9.72 per share. That figure easily beat the average estimate of $8.77 per share among analysts surveyed by FactSet.
Revenue climbed 33 percent from last year to $9.7 billion.