Articles of the Day

Earnings: Google Comes In Higher Than Expected After All; Revenue, Income Up — Despite all the qualms and lowered expectations from analysts, Google (NSDQ: GOOG) reported Q3 revenues of $5.54 billion, up 31 percent over last year, and net income of $1.56 billion, or earnings per share of $4.92. Google beat the average EPS estimate from analysts of $4.74 a share, according to FactSet Research (via MKTW). Compared sequentially, though, Google showed a modest 3 percent increase in revenue over Q2. Excluding traffic acquisition costs of $1.5 billion, net revenue was $4.04 billion. Google’s shares snapped back this afternoon during the last hours of today’s session and are trading at $375.97.

Google Names Rosenblatt Head Of Display, Releases Build-Your-Own Display Ad Platform — Former DoubleClick CEO David Rosenblatt has swapped titles—he’s now Google’s (NSDQ: GOOG) new president of global display advertising, Bits reports. It’s a new role within Google, and a signal, perhaps, that the search giant is ready to get serious about becoming a display giant too. Google bought DCLK last year for for about $3.3 billion. Another signal is that Google launched a build-your-own display ad tool today for AdWords, which makes it easy for users to pick text, images and logos for ads that will run across Google’s content network (including in video and game units). Google hasn’t announced a lot with DoubleClick since the acquisition closed, but the display ad division is seemingly one of the only recent add-ons that’s pulling its own weight. We’ll see if they acknowledge Rosenblatt’s new gig (or even DoubleClick’s contribution to the bottom line) later today.

News Corp Rethinks Private Equity Investment In MySpace Music; Too Complicated, Not Necessary — That Hulu-like private-equity set-up for the much-hyped MySpace Music isn’t on the front burner and may not ever happen, according to sources familiar with the situation. There are several reasons that boil down to this: News Corp (NYSE: NWS) and MySpace don’t see the need to try to do something as complicated as a full spin-off given the way MySpace Music has taken off in terms of downloads and advertising interest. This is not a case of market fright—private equity inv*stm*nt interest is there— but of the company deciding there’s no compelling reason to make the move at this point. As someone in the PE community told me, “They didn’t even shop it that hard.”

Nokia Adds U.S. Publishers To Media Network — Several top U.S. publishers have joined the Nokia Media Network, a premium mobile ad network with the potential to reach millions of consumers. Fox News, the A&E Network, the Bio Channel, the History Channel and the Hollywood Reporter are the latest additions to the network. They join publishers including Reuters, CNET, Agence-France Press, Unidad Editorial, Hearst and AccuWeather.

Yahoo Bows Unified Social Media Profile — Yahoo recently shut down its fledgling social media site Mash, but that didn’t derail all of its social media plans. Today it launched a unified profile feature that lets users access (and eventually control) their various social media personas across the Web. It’s part of the company’s “open” strategy (Y!OS), which gives developers and other third parties access to a number of Yahoo platforms through a set of APIs. The strategy has already spawned two search plays, Yahoo BOSS and Search Monkey, each with varying levels of customization. Users of Yahoo Messenger 9.0 have already started seeing some of the profile integrations, as the IM client pulls in their friends’ Twitter, Yahoo Buzz and Mybloglog updates. Deeper integration into Yahoo Mail is slated to come next, as well as a customizable homepage.

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