Google Q2 net profit rises 24 per cent to $1.84 billion
16 Jul 2010
Internet giant Google on Thursday announced a 24 per cent increase in the second quarter (April-June 2010) net profit to $1.84 billion, aided by rising revenues from online advertising.
This compares with a net profit of $1.48 billion in the second quarter of the previous year.
Google saw its revenue also grow 24 per cent to $6.82 billion in the second quarter of this year, from $5.52 billion in the year-ago period.
"Google had a strong second quarter," said Eric Schmidt, CEO of Google, adding, "We saw strength in every major product area, as more and more traditional brand advertisers embraced search advertising and as large advertisers increasingly ran integrated campaigns across search, display, and mobile. We feel confident about our future, and plan to continue to invest aggressively in our core areas of strategic focus."
Google said the second quarter 2010 traffic acquisition costs totalled $1.73 billion, or 26 per cent of advertising revenues.
"Solid growth in our core business and very strong growth in our emerging businesses drove 24 per cent revenue growth year-over-year," Schmidt added.