Q3: Google posts monstrous 27 pc jump in profit

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Google
Bangalore, Oct 16: Heralding better days for Internet and the online ad market, Google has posted a 27 per cent jump in its third quarter (Q3) net profit.

While the Internet giant's profit stood at 1.6 billion dollars (£1 bn), its revenue rose by 7 per cent in the third quarter as opposed to the mere 3 in the second quarter (Q2).

During the quarter the company's sales rose to 5.94 billion dollars versus 5.54 billion dollars from the previous year.

Speaking to analysts after the Q3 results, CEO Eric Schmidt said that the company was planning on increasing its headcount apart from making heavy investments.

"The worst of the recession is behind us," he remarked.

Google was able to see monstrous revenue and profit after the company was forced to cut costs, sacks scores of employees and shut down unprofitable ventures to stay afloat during the world's worst  economic crisis since the great depression.

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