Google results beat expectations, shares rise
Shares of Google, which have risen nearly 15 percent in recent weeks, rose 2.1 percent.
The world's No. 1 search engine said sales in the third quarter totaled $5.94 billion, up from $5.52 billion in the second quarter and $5.54 billion in the year-earlier period. Excluding traffic acquisition costs -- the money that Google shares with partners -- revenue was $4.38 billion versus the $4.24 billion expected by analysts polled by Thomson Reuters I/B/E/S.
Google said net income was $1.64 billion, or $5.13 a share, compared with $1.29 billion, or $4.06 per share, a year earlier.
Excluding items, Google's profit per share was $5.89, beating the $5.42 expected by analysts.
Google shares have surged roughly 84 percent since mid-March, setting a fresh 52-week high of $535.58 on Wednesday.
(Reporting by Alexei Oreskovic; Editing by Richard Chang)
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