Google revenues up 24pc, growth across all areas

16 Jul 2010

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Search and online advertising giant Google reported a 24pc increase in revenues for the second quarter reaching US$6.8bn – driven by strong growth in the company’s emerging businesses.

“Google had a strong second quarter,” said Eric Schmidt, CEO of Google. “Solid growth in our core business and very strong growth in our emerging businesses drove 24pc revenue growth year over year.

“We saw strength in every major product area, as more and more traditional brand advertisers embraced search advertising and as large advertisers increasingly ran integrated campaigns across search, display and mobile.

“We feel confident about our future, and plan to continue to invest aggressively in our core areas of strategic focus,” Schmidt said.

Google employs 1,500 people in Dublin and is rumoured to be expanding with a further 500 jobs and new European headquarter buildings.

Operating income in the second quarter of 2010 was US$2.37bn, or 35pc of revenues. This compares to operating income of US$1.87bn, or 34pc of revenues, in the second quarter of 2009.

Net income in the second quarter of 2010 was US$1.84bn, compared to US$1.48bn in the second quarter of 2009.

Earnings per share (EPS) in the second quarter of 2010 was US$5.71 on 322 million diluted shares outstanding, compared to US$4.66 in the second quarter of 2009 on 319 million diluted shares outstanding.

Google-owned sites generated revenues of US$4.50bn, or 66pc of total revenues, in the second quarter of 2010. This represents a 23pc increase over second-quarter 2009 revenues of US$3.65bn.

Google’s partner sites generated revenues, through AdSense programs, of US$2.06bn, or 30pc of total revenues, in the second quarter of 2010. This represents a 23pc increase from second-quarter 2009 network revenues of US$1.68bn.

Revenues from outside of the US totalled US$3.53bn, representing 52pc of total revenues in the second quarter of 2010, compared to 53pc in the first quarter of 2010 and 53pc in the second quarter of 2009.

Revenues from the UK totalled US$770m, representing 11pc of revenues in the second quarter of 2010, compared to 13pc in the second quarter of 2009.

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Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com