Google Q2 Revenue up 32 Percent
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.