Google Q2 Sales Top $9B as 10M Google+ Users Join
Google enjoyed a big second quarter, topping the $9 billion sales market. Profit was $2.1 billion. Moreover, Google CEO Larry Page said Google+ sees 10 million plus users.Google (NASDAQ:GOOG) July 14 broke the $9 billion sales mark for the first time ever in the second quarter, a 32 percent boost over Q2 2010 revenues of $6.82 billion. Excluding $2.11 billion in traffic-acquisition costs, the search engine notched $6.92 billion in net revenue in the second quarter of 2011 and non-GAAP earnings per share of $8.74. Analysts polled by Wall Street had expected $6.54 billion in revenue and $7.87 in earnings per share.
Google, which saw company co-founder Larry Page streamline the management team after taking the reins from Eric Schmidt as CEO in April, also recorded a profit of $2.51 billion, up from $1.84 billion in Q2 2010.
Moreover, the Android Market has seen more than 6 billion total downloads. These metrics are happening across 400 different Android smartphones and Honeycomb tablet computers. Google's search growth remains strong, with paid clicks growing 18 percent over Q2 2010. Average cost-per-click rose 12 percent over Q2 2010 and increased 6 percent over Q1 2011. The company maintained its 65.5 percent search share through June, comScore said. Google launched several new search products, including voice and image search on the desktop and Instant Pages search. Google's Q2 wasn't without its bumps. The company learned the Federal Trade Commission would investigate the company for possible antitrust violations related to its search-ad business. The Justice Department is also scrutinizing the company's bid to buy Admeld for $400 million.