Google’s stock climbs on positive earnings

Google Inc. exceeded analyst expectations in its first quarterly earnings report as a public company, propelled by a continued surge in online advertising distributed by its Internet-leading search engine.

The Mountain View, Calif.-based company said Thursday that it earned $52 million, or 19 cents per share, during the three months ended in September. That compared to $20.4 million, or 8 cents per share, at the same time last year.

The results, marking Google’s first quarterly review as a public company, included one-time charges to account for stock-based compensation and a previously announced settlement of a patent dispute with rival Yahoo Inc.

Google — cofounded by Sergey Brin, above left, and Larry Page — released results after the stock market closed Thursday. The company’s shares climbed $8.89 to finish at $149.38 on the Nasdaq Stock Market, then increased another $8.97 in extended trading.

Lawrence

Chamber welcomes 165 new members

A three-day membership drive by the Lawrence Chamber of Commerce netted the organization 165 new members, chamber officials announced Thursday.

The drive, which began Tuesday, met the chamber’s expectations despite falling short of the organization’s goal of 300 new members.

“We think it went great,” said Lavern Squier, president and chief executive of the chamber. “It really shows what our volunteers are not only capable of doing but willing to do.”

With the drive complete, the chamber now has about 1,600 members.

Economy

Mortgage rates fall

Rates on 30-year and 15-year mortgages fell this week to the lowest levels seen in six months, good news for people wanting to buy a home or refinance.

Freddie Mac, in its weekly, nationwide survey, reported Thursday that rates on 30-year, fixed-rate mortgages averaged 5.69 percent for the week ending Oct. 21. That was down from 5.74 percent last week.

Rates on 30-year mortgages hit a high this year of 6.34 percent the week of May 13.

State agriculture

Loan delinquencies down

An improving farm economy, coupled with bigger-than-expected disaster payments, has driven down farm loan delinquency rates in Kansas, the U.S. Agriculture Department’s Farm Service Agency said Thursday.

As of Sept. 30, the loan delinquency rate had dropped to 5.5 percent statewide, compared to a 6.4 percent delinquency rate for the same month last year and 6.1 percent in 2002.