Google reaches USD 1 bn profit per quarter

Google has announced that its revenues are up by 57% from Q306 to USD 4.23 bn, prompting comments that Google share prices are heading for the USD 700 mark, a nice mark-up from the original USD 85.

Profits are up by 46% over the same period, hitting the USD 1.0 bn mark for the first time ever.

However, there are a few hiccups like the fact that International Revenue is static (although this was compensated by the weak US dollar, otherwise, IR would have recorded a USD 121m downfall).

The vast majority of Google's profits and revenues is generated by advertising prompting concerns that Google might not be doing enough to diversify.

At the same time, Google paid a whopping USD 1.23bn in Q3 to Adsense and other partners, increased its number of full time employees to nearly 16,000 worldwide and is building up a war chest having accumulated more than USD 13 bn in cash and other securities.

At the time of writing, Google share prices reached USD 640 pushing its Market Capitalisation to almost USD 200 bn.