Google financials exceed estimates in latest numbers [Update]

Google is one of the first big tech companies to reveal its financial results for the last quarter and its numbers are indeed impressive. According to Google's press release, the quarter that ended on June 30 brought in $9.03 billion, an increase of 32 percent compared to the same period a year ago. Financial analysts has expected Google to bring in $8.6 billion in revenue. The company reported a profit of $2.51 billion, which was higher than the $1.84 billion recorded at the same time period a year ago.

Any way you look at the financial numbers it's clear that Google had a solid second quarter. The company currently has $39.1 billion in cash and 28,768 full time employees, up from 26,316 employees in the first quarter of 2011. The news has sent Google's stock price way up in after hours trading; the price is currently 12 percent higher than at the close of trading at 4 pm Eastern time.

Of course the big recent news is the launch of Google+, the new social networking service that Google started just a few weeks ago. While today's press release didn't give any subscription numbers for Google+ the company's CEO Larry Page is quoted as saying, "I'm super excited about the amazing response to Google+ which lets you share just like in real life." Some estimates have over 10 million people signed up to use the new service. More info on Google+ is expected to be revealed during the company's quarterly conference call with investors later today.

Update - The original version of the story had incorrect profit numbers; we regret the error.

Report a problem with article
Previous Story

Six out of ten users use vulnerable Adobe Reader versions

Next Story

Spotify US free invite has music with no limits for six months

18 Comments - Add comment