Google posts record-breaking third quarter revenue, earnings

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Mountain View, Calif.—Google reported its revenue nearly doubled in the third quarter, typically a slow period for Internet companies.

The company announced Thursday afternoon that its revenue climbed 96% to $1.58 billion, up from $805.9 million in the third quarter of 2004.

Net income for the third quarter was $381.2 million, up 633% from $51.9 million in the year-earlier period.

“We had another strong record-breaking quarter in terms of both revenues and profits,” said Eric Schmidt, CEO of Google, in the company’s Webcast.

Schmidt said more large advertisers are giving Google a go. “In the near term, we’re attracting a lot more business from Fortune 500 companies,” he said.

Sergey Brin, co-founder and president-technology at Google, said his focus remains on introducing new products to advertisers.

“Advertising continues to drive most of our business, and we’ll continue to expand our advertising products,” Brin said. “The site targeted advertising program we launched in Q2 has been widely adopted. More than 25% of Google’s top 100 advertisers have run a site-targeted campaign, and the feedback has been positive.”

—Carol Krol

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