GOOG’s profits soar!!!

I can’t believe this company.

Things are good for Google. The company’s much anticipated financial report shows a dramatic increase in income, largely from its gangbusters advertising plan. Their fourth quarter report turned in a net profit of US$204 million which translates to 71 cents per share, for the the last three months of 2004. The year previous, Google saw a net profit of $27.3 million, or roughly 10 cents a share.

Google’s getting good at making money, too. These latest results are on $1 billion in gross revenue, while the previous results where roughly half that, at $512 million. Double your gross, octuple your net? Translation: bling, bling. Indeed, a one time compensation charge got in the way of an astounding 92 cents/share. After hours trading has seen the stock grow from its already impressive $193 share price to near $210 per share.

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