Google posts record-breaking quarterly results as search giant invests in mobile

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Google posts record-breaking quarterly results as search giant invests in mobile

Warwick Ashford

Warwick Ashford Warwick Ashford

Warwick Ashford is chief reporter at Computer Weekly. He joined the CW team in June 2007 and is focused on IT security, business continuity, IT law and issues relating to regulation, compliance and governance. Before joining CW, he spent four years working in various roles including technology editor for ITWeb, an IT news publisher based in Johannesburg, South Africa. In addition to news and feature writing for ITWeb’s print publications, he was involved in liaising with sponsors of specialist news areas on the ITWeb site and developing new sponsorship opportunities. He came to IT journalism after three years as a course developer and technical writer for an IT training organisation and eight years working in radio news as a writer and presenter at the South African Broadcasting Corporation (SABC).

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Google has reported a strong third quarter with revenues of $9.72bn, a 33% increase over the same period the year before.

 

Net income was up 25% at $2.73bn, compared with $2.17bn in the third quarter of 2010.

 

"We had a great quarter, with revenue up 33% year on year and our quarterly revenue was just short of $10bn," said Larry Page, CEO of Google. "Google+ is now open to everyone and we just passed the 40 million user mark."

 

The bulk of revenue came from Google-owned sites, which generated revenues of $6.74bn, or 69% of total revenues in the quarter, a 39% increase over the third quarter in 2010.

 

Google's partner sites generated revenues, through AdSense programs, of $2.6, or 27% of total revenues. This figure was up 18% on the same period the year before.

 

Revenues from outside the US totalled $5.3bn, representing 55% of total revenues in the third quarter of 2011. This figure was up 1% on the previous quarter and 3% on the third quarter of 2010.

 

Revenues from the UK totalled $1.05bn, representing 11% of revenues in the third quarter of 2011, compared with 12% in the third quarter of 2010.

 

 

Larry Page told analysts Google is seeing a huge positive revenue impact in mobile advertising. Mobile is on track to generate over $2.5bn revenue in the coming year, according to the New York Times.

 

Google has nearly 100% market share in mobile search and is investing heavily in mobile. But until now, Google has offered little detail on how much mobile ads contribute to revenue, the paper said.

 

Analysts say the strong financial results should ease concerns over whether Google's core search business would keep up its steady rate of growth.

 

The results are also expected to provide some comfort to shareholders concerned about Google's aggressive hiring, new businesses and high-priced acquisitions.

 

On a worldwide basis, Google employed 31,353 full-time employees as of September 30, 2011, up from 28,768 full-time employees as of June 30, 2011.

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