Better times are returning to the Internet search leader, Google, with the company reporting a healthy 27% rise in net profits for the September 2009 quarter. The profit of 1.64 billion US dollars is also the highest ever profits achieved by the company ever since inception.
The company is seeing increased revenues from mobile search business and it is expecting to expand the range of products and services in the coming years. It is also planning to buy out companies in related fields, on an ongoing basis in order to strengthen the service range and also utilize the massive cash position the company has built over the years.
The shares are now quoting at record high 550 dollars a share, and a leading analyst firm has predicted it to reach 700 dollars by the middle of 2010.
Google reports 27% growth in Q3 profits