The search engine giant Google Inc (www.google.com) announced on October 22 that its net profit and sales have more than doubled in the third quarter of 2004. The announcement spurred a spectacular jump in its share price in the US markets. The company's net profit leapt 154.5 per cent from a year ago to $52.0 million in the three months to September 30.
Google, which floated a huge IPO in August, has seen its earnings per share climb to 19 cents from eight cents. Its sales have doubled, rising 104.6 per cent to $805.9 million. Before the close of the market, Google shares soared $8.89, or 6.33 per cent, to $149.38. Within an hour after the close, they had soared another $7.37, or 4.9 per cent, to $156.75.
