IRS Eyes Google As Profits Jump

Hard times elsewhere haven't done any damage to Google's bottom line. The company has announced a whopping 26% year-on-year jump in profits for the third quarter of this year, with net income of $2.73 billion on nearly $10 billion revenue, most of it from advertising, the BBC reports. "The word that springs to mind is 'gangbusters,'" CEO Larry Page boasted, hailing Google+ as a success—although one senior engineer has a different opinion.

Google now employs over 2,500 more people than it did three months ago, with a total head count of 31,353 worldwide, GeekWire notes. The news isn't all good for Google, however: The IRS is auditing how the company dodged federal taxes by shifting profits offshore, sources tell Bloomberg. Google is believed to have avoided some $1 billion in taxes worldwide by using a pair of strategies called the “Double Irish” and “Dutch Sandwich." (More Google stories.)