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«AgroInvest» — News — Google's revenue up 35% on-year

Google's revenue up 35% on-year

2012-07-20 16:26:10

Google earnings hit analysts' target as refinements to the company's Internet search technology lured more Web surfers to click on its revenue-producing ads.

The results included Google's US$12.5-billion (S$15.7-billion) acquisition of mobile phone maker Motorola Mobility for the first time. Google owned Motorola for the final 39 days of the quarter ending in June.

Excluding Motorola, Google's revenue during the quarter would have grown at the slowest pace since 2009. That slowdown stemmed primarily from the economic turmoil in Europe that has weakened currencies overseas, resulting in less revenue when sales are converted into US dollars.

Google earned US$2.8 billion, or US$8.42 per share, during the three months ending in June. That compared with net income of US$2.5 billion, or US$7.68 per share, last year.

Revenue climbed 35 per cent from last year to US$12.2 billion. If not for Motorola, revenue would have increased 21 per cent. That would have been Google's slowest rate of revenue growth since the fourth quarter of 2009, when it was still recovering from the Great Recession.

 

 

TODAY