Google Profits Ahead of Expectations

Date: 15 Jul 2011

Google continue their meteoric success story - having announced substantial increases in profits for the past 3 months (April - June 2011).

Google are showing a profit of 36% on the same period last year, with revenue increasing by 32% in the same space of time. Net profit for 2011 stands at $2.5 Billion while revenue sits at $9 Billion so far this year.

New CEO Larry Page is right to be jubilant - saying, "We had a great quarter. I'm super excited about the amazing response to Google+."

Page replaced Eric Schmidt as CEO in April 2011, and the Google co-founder is thought to have breathed new life (and profits) into the business through channelling relationships with investors and continuing investment in new products. The newest of these, Google+, is taking the world by storm and taking on Facebook at its own game.

Investors have responded favourably, with shares increasing by 11% following the news.