Google continues to dazzle the investment community with increased profits. The Wall Street Journal reported on Oct. 18, 2013, "Google's Profit Rises 16%." Google is still doing incredibly well in spite of lower prices for online ads on mobile devices.
Even though the average price of ads that Google sells on websites and mobile apps has been dropping, the firm posted stable revenue growth in its first quarter. There has been a growing percentage of activity on Google's Web-search engine through mobile devices, where online ads generally cost less than those on sites which are accessed by desktop PC users. But, Google has reported a 16 percent rise in profit to $3.35 billion.
CBS Money Watch has reported, "Google profits surge despite ad price slump." On news that Google's (GOOG) earnings climbed 36 percent in spite of a deepening fall in its average ad prices, Google's stock surged 6 percent to $943.90. Google earned about $3 billion, or $8.75 per share, during the three months ending in September. This firm offers a fascinating study of long term success.