Google is raking it in

Written by Wil Harris

October 22, 2005 | 17:25

Tags: #financial #growth #income #profit #report #share #value

Companies: #aol #google

If you ever had any doubts that Google is going from strength to strength, you might as well forget them. Long-time bit-tech reader MrWillyWonka brings us the following report:

"Sometimes it's hard to tell whether Google Inc. is operating an online search engine or a moneymaking machine." A quote from CNN, and a good one too.

At the close of trade on the New York Stock Exchange on Friday, shares in the firm were up by over 12% at $339.84.

Google reported a third quarter net income of $381.2m (£215m) on Thursday, up from $52m in the same period last year. That's nearly eight times the income!

There is often speculation over how Google makes its money, and the search-giant seems to be on a roll - the value of Google is estimated at more than $100bn according to CNN, and $54bn according to the BBC. That is a lot of money, and in just 7 years, Google is now worth more than Hewlett Packard. An amazing achievement.

A very nice read on Google's money making ways can be seen here, with some good details how advertising gives everyone a win-win, or rather, a win-win-win situation - with Google, the advertiser and the user all doing well out of the GoogleAds service.

You might think that Google is thrashing all other search engines in terms of value increase. Not so, Yahoo's shares also rose 0.17% to $35.34 yesterday. But Yahoo's share value is still tiny, compared to Google's monsterous $339.84!

Original sources: BBC and CNN.

Cracking stuff from the boys - but what will they do next? The battleground is AOL, as Microsoft, Google and Yahoo all fight to snap it up and become the biggest gateway to the internet. Google must surely be the frontrunner in that race? Give us your thoughts in the News Forum.
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