Google is the first of the major tech companies to reveal its financial numbers for the third quarter of 2011 and the results turned out to be very strong. Google announced that its revenues for the three month period that ended on September 30 came in at $9.72 billion, 33 percent above the revenue numbers it recorded for the same time period a year ago. The revenues were also well above expectations from analysts. Google recorded net income of $2.73 billion for the third quarter, well above the $2.17 billion that it recorded for the same period a year ago. The stock price went up about 5 percent in after hours trading.
The press release also stated that Google currently has $42.6 billion in cash which it could use, among other things, to acquire other companies. Google has already announced plans to purchase Motorola Mobility for $12.5 billion. Even though Motorola makes smartphones based on Googles Android operating system, Google has already said that it will treat Motorola as a separate company when it comes to working with them on Android phones.
The company is expected to reveal more info about Googles various businesses in its conference call with analysts later today. One big question is how many people are signed up to use the Google+ social networking service since Google opened up the service to the general public a few weeks ago. We might also learn more about Googles plans for the future of the Android operating system.