Google's 3Q Profit Seven Times Higher: Financial News - Yahoo! Finance

Google Inc.'s rapidly rising profits soared to new heights in the third quarter as its Internet-leading search engine churned out a sevenfold earnings improvement that blew past analyst expectations.

The Mountain View, Calif.-based company said Thursday that it made $381.2 million, or $1.32 per share, during the three months ended in September. That compared with net income of $52 million, or 19 cents per share, a year ago. Last year's results included a $201 million charge to account for a legal settlement with rival Yahoo Inc.

If not for charges related to a recent acquisition and employee stock options issued before the company went public 14 months ago, Google said it would have earned $1.51 per share.

That figure easily exceeded the consensus estimate of $1.36 per share among 31 analysts surveyed by Thomson Financial. Even the most bullish analysts hadn't expected Google to fare as well as it did; the highest earnings estimate had been $1.46 per share.

[AP]