Google has announced the financial results for third quarter ending September 30, 2006. Financial summary is available at Google's press center:
"Google reported revenues of $2.69 billion for the quarter ended September 30, 2006, an increase of 70% compared to the third quarter of 2005 and an increase of 10% compared to the second quarter of 2006. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs, or TAC. In the third quarter of 2006, TAC totaled $825 million, or 31% of advertising revenues."
Quarterly profit rose 92% and the gross revenue rose 70% to $2.69.
Reuters reports "Analysts had been looking for a net profit, on average, of $2.13 per share, according to Reuters Estimates. Excluding stock-based compensation and amortization, the consensus forecast was for a profit of $760.1 million, or $2.41 a share.
Wall Street analysts on average had projected revenue, excluding what Google pays to Web site affiliates, to rise 66 percent from the year earlier to $2.62 billion, according to Reuters Estimates. Forecasts ranged between $2.48 billion and $2.76 billion."
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