Google's profit doubles in quarter
"Overall, the revenue came in certainly better than what I had been looking for," said David Garrity, analyst.india Updated: Jul 21, 2006 08:58 IST
The quarterly profits of web search leader Google Inc doubled as the company dodged the slowing growth trend that has hurt rivals Yahoo and eBay.
The results, which significantly beat market expectations, sent Google's shares up nearly two per cent in after-hours trade.
Second-quarter net income rose to $721 million, or $2.33 per diluted share, compared with the previous quarter's $343 million, or $1.19 per share.
"Overall, the revenue came in certainly better than what I had been looking for," said David Garrity, analyst at Dinosaur Securities.
"The fact that you have got that kind of growth coming from overseas, where it's mostly going through Google's own network, probably can be seen as positive."