From today’s New York Times…
The world’s largest search engine said yesterday that its third-quarter profits nearly doubled from a year ago, as it maintained a torrid growth rate that is highly unusual for a company of its size.
The numbers are all the more significant because Google’s largest rival, Yahoo, has been faltering, as sales have tapered off for both its search and display advertising.
“Forty-eight hours ago we were discussing Yahoo; the contrast is pretty amazing,” said Jordan Rohan, an analyst with RBC Capital Markets. “This is an eye-opening and refreshing quarter for Google investors.”
In after-hours trading, Google’s shares surged 7.5 percent. In regular trading, before the results were reported, the shares rose $6.75, or 1.6 percent, to $426.06.