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Google Tops Views, But Big Challenges Await Search Giant; Lockup Period Expires Soon; Company entrenched as cultural icon, but Yahoo and others making gains.(A)
Byline: PETE BARLAS
The king shows no signs of relinquishing its crown.
Google, the No. 1 Web search service, Tuesday said fourth-quarter revenue doubled from the year-ago period to $1.03 billion.
Minus traffic acquisition costs, or proceeds paid to partner Web sites, revenue came in at $654 million vs. the $591 million consensus estimate of 23 analysts polled by Thomson First Call.
Net profit skyrocketed more than sevenfold to 71 cents a share from 10 cents. Pro forma per-share profit came to 92 cents, most analysts said, shattering analysts' 77-cent estimate.
Google shares, which fell 2% in regular trading before it released results, was up 9% after hours.
"We innovated, we grew, we executed and, most importantly, we continued to strengthen our relationship with our users," CEO Eric Schmidt said on a conference call.
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