Google announced its second quarter earnings Thursday, showing a 32 percent increase in revenue over the same period last year.
The Mountain View, California-based company reported revenue of 9.03 billion U.S. dollars for the quarter ending June 30, 2011, an increase of 32 percent compared to the same quarter of 2010.
Excluding costs paid to partner websites, Google’s revenue totaled 6.92 billion dollars, topping the average estimate of 6.57 billion dollars by analysts, according to Bloomberg. Google also posted a profit of 2.51 billion dollars, up nearly 36 percent from a year ago.
Google’s chief executive stressed that the company’s investments in its Android mobile device software and the Chrome Web browser would generate "huge new businesses for Google in the long run, just like search."
"I see more opportunities for Google today than ever before," Page said during a conference call with analysts. "Because, believe it or not, we are still in the very early stages of what we want to do."
Mr. Page addressed spending concerns and others while outlining his plans for the company. He explained that he saw Google’s search and ad businesses as the core driver of its revenue, and YouTube, Android and Chrome as products that consumers liked but that needed more investment to become profitable long term. The social networking businesses, like Google+, and the local and commerce businesses, like Google’s new Groupon competitor, Offers, are in the earliest stages.
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