GOOG: Profit up 92%, revenue 70% - Feel the power
Google reported unbelievable growth in the third quarter, with revenue up 70 percent to $2.69 billion and profits up 92% over the year-ago quarter. (Financial Times). Net income more than doubled, from $381.2 million to $733.4 million.
Virtually all of Google's income comes from advertising, either on its own sites - revenues up 84% - or on its ad networks - revenues up 54% but representing a flat piece of the pie.
Contrast this with Yahoo's lousy numbers and falling advertising shares and the writing is on the wall. Yahoo cannot compete. It's new advertising engine changes nothing.