Google stock surges on gains in profit, revenue

October 18, 2013 - Updated 146 PKT
From Web Edition



SAN FRANCISCO: Google said Thursday its quarterly profit jumped to $2.97 billion on rising revenue, causing the Internet giant's stock to climb in after-market trades.

Google said that it took in revenues of $14.89 billion in the quarter that ended on September 30. The California company's stock leapt more than six percent to $943 a share in after-hours trade.

Profits were up 36 percent from the same period a year ago and topped expectations. Revenues also beat forecasts with a 12 percent jump year-over-year.

Google had another strong quarter with $14.9 billion in revenue and great product progress,? chief executive Larry Page said in a statement.

We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device.?

The number of paid clicks on ads served up at Google websites or those of affiliated online venues was up 26 percent from the same quarter last year.

Google reported that about eight percent of its revenue in the recently-ended quarter was from handset maker Motorola Mobile in a drop from what the Google-owned operation took in during the same period last year. The unit recorded an operating loss of $248 million in the past quarter. (AFP)

http://www.thenews.com.pk/article-12...rofit,-revenue