Google continues to grow revenue at a healthy rate, reporting an increase of almost 60 percent in the third quarter compared to the same period last year.
Third-quarter revenue for the search giant reached $4.23bn, up 57 percent over the same quarter last year.
Net income for the quarter that ended on September 30 was $1.07bn using GAAP (generally accepted accounting principles), compared to $733m in the same quarter last year. On a non-GAAP basis, net income reached $1.24bn in the third quarter
Google's core search advertising business, as well as expansion of services into international markets drove growth, Google said. Revenue from outside of the US was $2.03bn, representing 48 percent of revenue in the quarter. That compares with 44 percent of revenue coming from international markets in the same quarter last year.
Executives speaking during a conference call to discuss the earnings pointed to a number of areas where they expect to see continued growth, including mobile. The use of Google's mobile services, which include search, maps and YouTube, is growing, with some services doing particularly well in certain areas such as Japan and Korea, said Larry Page, co-founder and president of products of Google.
Many of the leading online services providers, including Google, Yahoo and Microsoft, have been jostling for a lead position in the emerging mobile internet market. So far, none has emerged as a clear leader, but Google thinks that's about to change. "There's some evidence that we're becoming a leading mobile application provider, at least in certain segments," said Eric Schmidt, CEO of Google.