Google Reports Revenue of $9.72 Billion
According to a recent report, Google exceeded analysts’ expectations when it comes to forcasted revenue. In the quarterly report regarding the company earnings, Google officials pointed out that the revenue is 33 percent higher than in the last quarter and the net income went up by 26 percent.
According to New York Times, quoting internal sources, “Google reported net income for the period ending Sept. 30 of $2.73 billion, or $8.33 a share, up from $2.17 billion, or $6.72 a share, a year ago. Excluding the cost of stock options and the related tax benefits, Google’s third-quarter profit was $9.72 a share. Analysts had expected $8.74 a share”. Now Google reports a revenue of $9.27 billion, increasing from the $7.29 billion reported last year.
Larry Page, Google’s chief executive, referred to the company financial efficiency: “When I look back over the last quarter, the word that springs to mind is ‘gangbusters,’“ Then added with a pretence modesty that “it’s not bad for a 13 year old”, hinting to Google’s age.
The fact is that it would be redundant to speak about Google having an indisputable position in web searching but also the company has a nearly market share when it comes to mobile web searching. Analysts observed that this trend is growing since is more convenient for the users to search the web via mobile devices and to avoid as much as possible unwanted ads. However, most of Google revenue comes from advertising and is more likely that the company strategy will focus more on mobile advertising. Not to mention other staggering figures related to Google long activity: 190 million Android phone users, 40 million Google + users and 200 million Chrome fans.
Meanwhile, Google is spending the fortune on strategic acquisitions, as the recent $ 12.5 billion bid on Motorola Mobility. Google also expanded its work force, hiring in the last quarter 2,585 more people, most of them recent college graduates.