NEW YORK ( TheStreet) -- Shares of Google (GOOG - Get Report) jumped in late trades on Thursday after the Internet search giant trounced Wall Street's earnings expectations for its third-quarter results.
"We had a great quarter," said Larry Page, CEO of Google, in a statement. "Revenue was up 33% year on year and our quarterly revenue was just short of $10 billion. Google+ is now open to everyone and we just passed the 40 million user mark. People are flocking into Google+ at an incredible rate and we are just getting started!"
The company reported non-GAAP earnings of $3.18 billion, or $9.72 a share, for the three months ended in September. Revenue totaled $9.72 billion. Excluding traffic acquisition costs of $2.21 billion, revenue came in at $7.51 billion. The average estimate of analysts polled by
Thomson Reuters was for earnings of $8.74 a share for the quarter on revenue of $7.22 billion.
The stock was last quoted at $594.50, up 6.4%, on volume of 1.31 million, according to Nasdaq.com. Based on a regular session close at $558.99, the shares were down roughly 7.7% so far in 2011, although they've seen a healthy bounce since plumbing a 52-week low of $473.02 on June 24.Google reported increases in both paid clicks and cost-per-click on year-over-year basis but did see a decline of 5% in cost-per-click on a sequential basis.