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Google proved forecasts wrong

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Google Inc. has proven proven the forecasts wrong after hurdling the Wall Street quarterly profit estimates. To be exact, Google’s total Q3 net income reached up to $1.35 billion, or $4.24 a diluted share, from $1.07 billion, or $3.38 per share.

The results are accumulations of international sales that shoot up to 41 percent. Googles authorities confirmed that even their sales in UK, the company’s largest market, has increased in sales by 7 percent compared to last year. Furthermore, Google has performed a major cost-cutting in terms of property and equipment purchases from $697 million for the second quarter of 2008 to $452 million on the third quarter.

Schmidt, one of Googles top officials, stated, “We are all in uncharted territory…. We are very realistic about the macro environment, but we are optimistic about Google’s future.”


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