Google Q2 revenue up 32 percent
- 15 July, 2011 06:35
Google's revenue and profit grew in the second quarter, as the company's core search advertising business continued to perform very well.
Total revenue grew 32 percent year-on-year in the second quarter, ended June 30, to US$9.03 billion, the company said on Thursday.
Subtracting fees and advertising commissions paid to partners, Google's net revenue came in at $6.92 billion, exceeding the $6.55 billion consensus expectation from analysts polled by Thomson Financial.
Net income was $2.51 billion, or $7.68 per share, compared to $1.84 billion, or $5.71 per share, in 2010's second quarter.
On a pro forma basis, which excludes certain one-time items, net income was $2.85 billion, or $8.74 per share, exceeding the $7.86 per share analyst consensus expectation and topping the $2.08 billion, or $6.45 per share, earned in the second quarter of 2010.
People clicked on 18 percent more ads served by Google and its partners, and the average fee paid by advertisers for a click rose 12 percent, year-on-year.
CEO Larry Page described the quarter as "great" and said in a statement that he was "super excited" about the response that the company's new social networking site Google+ has received.