Google’s quarterly profit jumped by 92% (almost doubled) which made its shares rise by 7% – 8%. On contrast, quarterly profit of of Yahoo dropped by 37%.
Of course, these results have proved that pay-per-click Web advertising counted on by Google is maturing in the face of mounting competition. Revenue from affiliated Web sites using Google’s AdSense programs accounted for 39 percent of revenue, or $1.04 billion, a 54 percent rise over year-earlier revenue of $675 million.
Google has been spending heavily this year to develop new software products and services, aiming to expand its Web advertising business beyond text advertising and into corporate brand, print, radio and video markets CEO Eric Schmidt said the company plans to continue to invest in networks and other capital equipment at a faster rate than overall revenue growth. Its global work force grew to 9,738 full-time employees in September from 7,942 in June.