Google has completed its second quarter report, and the results are more than a little heart-warming for investors. The second quarter income of $2.51 billion represents at 36 percent growth from last year, while revenue climbed to $9.03 billion, up 32 percent from last year and 5.2 percent from the first quarter.
Several investors had expressed concern with the slow growth of income and revenue in the aftermath of the first quarter report, but no such complaints have been heard since the June report. Investors are hopeful, with stocks (as of the time of this writing) reaching $597.62. This figure is at the peak end of a substantial climb that started with the beta release of Google+.
Google+, the company’s social network that’s currently in a closed-invite beta, is receiving a lot of the blame for Google’s success with investors, though it has little to do with the company’s revenue – so far. Nevertheless, the astounding growth of the social network – which, after just three weeks of existence, boasts more than 10 million users in its invite-only beta program – is certainly a good sign of future growth. Google on the whole is also living up to its promises of internal growth, having hired 2,400 employees, bringing the company total to 28,768 at the end of the quarter.
This is also a good indicator for Larry Page’s leadership. Page, the co-founder of Google who re-took over the reigns of the company earlier this year, was met with mixed reviews and plenty of skepticism. If any doubts remained, though, the 32 percent growth from the first quarter are likely to satiate them.
Approximately 69 percent of total Google revenues come from Google-owned sites, with the remainder coming from side projects such as Blogger and Gmail, display advertising, and profits from the Android operating system, Chrome OS, and Chrome browser.
[Sources include: Times of India & Google Investor Relations]