Google revenues up 31% in Q3

Google reported third quarter revenues of $5.54 billion, a 31 percent year-over-year jump and a 3 percent increase over the previous quarter. The web services giant notes that while Google-owned sites generated revenues of $3.67 billion (67 percent of total revenues) in Q3, a 34 percent year-over-year increase, its partner sites generated revenues of $1.68 billion (or 30 percent of total revenues) through AdSense programs, a 15 percent increase over the third quarter of 2007. Revenues from outside the U.S. totaled $2.85 billion, representing 51 percent of total Q3 revenues--Google adds that had foreign exchange rates remained constant from the second quarter through the third quarter, its Q3 revenues would have been $59 million higher.

"We had a good third quarter with strong traffic and revenue growth across all of our major geographies thanks to the underlying strength of our core search and ads business," said Google CEO Eric Schmidt in a prepared statement. "While we are realistic about the poor state of the global economy, we will continue to manage Google for the long term, driving improvements to search and ads, while also investing in future growth areas such as enterprise, mobile, and display." According to Seeking Alpha, during Google's earnings call Schmidt added "We have seen publicly that we are seeing an explosion in mobile search volumes. This is being enabled by devices with more powerful browsers. The compound growth rate is one of the fastest growing things at the company."

For more on Google's Q3 earnings:
- read this Seeking Alpha article

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