Google reports record profits and revenues in the third quarter

Google has reported a large rise in profits and sales in the three months to September.Google reports record profits and revenues in the third quarterThe search engine said net income in the third quarter surged 26% to a record £1.74 billion, up from £1.44 billion in the same period of last year.

Earlier in the summer Google launched Google+, a social network to take on Facebook.

“People are flocking into Google+ at an incredible rate,” claimed Google head Larry Page.

The profits were well ahead of market expectations, and shares in the company rose 6% in trading after the market closed.

This is the fourth successive quarter that the company has increased it’s sales income.

Sales revenue rose 33% to £6.48 billion ($9.72 billion) – which is just shy of having a quarterly turnover of $10 billion.

Larry Page said “We had a great quarter,” he said. “Google+ is now open to everyone and we just passed the 40 million user mark.”

Facebook by comparison has around 800 million users.

As well as generating money through advertising based on it’s hugely profitable Pay Per Click (PPC)  Google also makes the increasingly popular Android smartphone operating system.

October 24, 2011  Tags: , , , , ,   Posted in: Business Win, Google, Online Marketing, Search Engine Optimisation, Search Engines, Uncategorized, Winning Businesses

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