Google grows revenue and net income

Stephen Withers
Friday, 16 July 2010 08:57

IT Industry - Listed Tech

Google's second-quarter results featured revenues of $US6.82 billion, up 24% on the year-ago period.

Google CEO Eric Schmidt characterised the quarter ending June 30, 2010 as demonstrating "Solid growth in our core business and very strong growth in our emerging businesses".

Both revenue and  net income rose 24% year on year to $US6.82 billion and $US1.84 billion respectively.

Consequently, the coffers are looking healthy: $US10.7 billion in cash and equivalents, and another $US19.3 billion in marketable securities.

The company's businesses in the US have been faring slightly better than the rest of the world. Non US revenues accounted for 52% of the total, compared with 53% in the previous and year-ago quarters. Google officials called out the fact that UK revenues represented 11% of the total compared  with 13% in 2Q09.

Google continues to invest in its infrastructure. Capital expenditure for the quarter was $US476 million, "the majority of which was related to IT infrastructure investments, including data centers, servers, and networking equipment."

The company's workforce grew by over 1000 during the quarter, from 20,621 to 21,805.