Google put a smile on shareholder’s faces when it reported a 32 percent year-over-year increase in revenue on Thursday. The Internet search giant reported US$9.03 billion in revenue for its second fiscal quarter, or $6.95 billion after paying out ad commissions and other fees.
Net income for the quarter came in at $2.51 billion, up from $1.84 billion in the same quarter last year. Google said the number ads users clicked climbed 18 percent for the quarter, and some 97 percent of the company’s revenue for the quarter was ad-generated.
YouTube and DoubleClick, both owned by Google, helped bump up the company’s bottom line, and the company has high hopes for its just launched Google+ social networking service.
Facebook will no doubt watch Google’s progress with Google+. The service, which is in beta and only about two weeks old, is said to already include 10 million users. Assuming Google can draw users away from Facebook, it could potentially increase its ad-based revenue even more — and at the expense of Facebook.