Well I did say I am not confident enough to put my money on it ;), 10% sequential revenue growth is insane, I have to say that I am dumbfounded (however, why did they say 10% sequential revenue growth when their Q2 revenue was $2.46B and Q3 is $2.69B, isn’t that 9%?).
Either Comscore is really off (and Google gained a ton of search pageviews in Q3), or Google raised their CTR/CPCs way way up, or both. They did say this in their presentation “Monetization was the primary driver of revenue growth; traffic gains also contributed meaningfully”.
The increase is mainly coming from Google Sites at 14% sequential increase, the Google network (which includes both search on other sites like AOL, and adsense ads on other sites) was up just 4%.
Also international was very strong at around 12.72% (after you factor out the currency rate benefits).
This is indeed amazing performance for a slow summer quarter.