Google Reports 2nd Quarter Earnings, Beats Expectations

July 15th, 2011 at 10:26 am
 


Google is at it again. The online search giant has once again reported earnings that has beaten analysts’ estimates, showing that it is still going on a robust tear towards a very good year. The search giant has reported its earnings as the market closed yesterday.

Google reported that is has revenues for the 2nd quarter that amounted to $6.92 billion, higher than the $6.55 billion that analysts expected. Net earnings stand at $2.5 billion. After deducting the cost of covering for employee stock, Google shares earned around $8.74 per share. This also beats analyst expectations of $7.86 earnings per share.

Google is quite upbeat about its forecast for the coming quarter. The company is quite excited about the amazing response of people to its new product the Google+ social network. The company is also expecting some added growth in terms of revenues outside of the US. International sales have continuously gone up from quarter to quarter. Its current $4.87 billion in international sales represents 54 percent of the total revenue. That’s up by a point from the last quarter, two points from the 52 percent during the same period last year.

Another part of the business that the company expects to develop further is its Android OS product. Larry Page, Google’s chief executive, reported that Android devices get activated at around 550,000 units per day. Android devices are now being sold by over 231 carriers in over 123 countries. So far, there are around 400 different devices that now use Google’s operating system.

But what may have been left out from the announcement was Google’s current stand with the various antitrust actions being filed against the company. Possible patent licensing issues that may affect Android devices were also not covered, probably not to undermine the upbeat spirit provided by the recent earnings report. But such issues may understandably have an effect on Google and its future earnings if the issues end up working against the company.

 

Tags: , , , , ,