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Saturday, July 16, 2011

TECH NEWS: Google going social as profit soars!

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(File photo) Picture for illustrative purpose only - AFP
(File photo) Picture for illustrative purpose only - AFP.

Google on Thursday released blockbuster earnings figures along with word that more than 10 million people have already joined its freshly-launched online social network.
Google stock prices climbed more than 12 percent to $594.90 after release of the earnings figures by executives who effused about Google+, YouTube, Android and other products promising even better days ahead for the company.
"If you look at the arsenal we are building it is really quite formidable," Goggle chief financial officer Patrick Pichette said during an earnings conference call.
Google reported that its profit climbed to $2.51 billion in the recently-ended fiscal quarter on record-high revenue of more than $9 billion.
"We had a great quarter, with revenue up 32 percent year-on-year for a record-breaking over $9 billion of revenue," Google co-founder and chief executive Larry Page said on the call.
Slightly more than half of Google's revenue, $4.87 billion, came from outside the United States, the company reported.
Paid "clicks" on Internet ads at the heart of the Mountain View, California company's money-making machine were 18 percent higher than in the same quarter last year.


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