Google set a new record for revenue in the second quarter of 2011, beating Wall Street estimates and boosting its share price by double digits.
The search giant earned $9.03 billion in Q2 2011, a 32% increase from Q2 2010. Operating income also increased by 32% to $2.88 billion. Google garnered $2.51 billion in net income for the quarter, up from $1.84 billion in Q2 2010. The numbers are also up from Google’s Q1 results of $8.58 billion in revenue and $2.8 billion in operating income.
69% of the company’s revenue came from Google-owned sites ($6.23 billion), while 28% of Google’s revenue came from AdSense ($2.48 billion). 54% of total revenues were from international business. Google now employs 28,768 people full-time, up from 26,316 in Q1 2011.
At the same time, Google’s overhead is exploding. The company’s costs grew from $4.46 billion to $6.15 billion — an increase of 39% from Q2 2010 to Q2 2011.
Still, investors are very happy with Google’s numbers, with shares rising by 58 points in after hours trading, an increase of 11%. We’re on Google’s investor call, so stay tuned for more details about Google’s record-breaking quarter.
More About: earnings, Google, Google Plus
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