Google just reported an excellent quarter with revenues and earnings above expectations. It posted $9.72 billion in revenue, and $2.73 billion in net income in Q3 2011, implying revenue growth of around 33% and income growth of about 25%. Its stock is up nearly 7% in pre-market trading following the excellent results.
During the earnings all, Google’s CEO, Larry Page, revealed some interestng details about Google’s relatively new products: Android, Chrome and Google+.
Android, which is perhaps Google’s greatest success to date after its core business, has been growing tremendously. Google is now seeing close to 600 activations per day. A total of over 190 million Android devices have been activated globally.
We all know that Android has been making a lot of money for Microsoft, but today, we finally have some idea of the impact of Android on Google’s revenues.
Google says that its mobile revenues have grown 2.5X over the past year, to a run rate of over $2.5 billion. Presumably, much of this can be attributed to Android.
Google will be launching the next version of Android, Ice Cream Sandwich, soon.
Google, which had largely been a one-trick pony so far, finally seems to have proven its detractors wrong. Google+ is growing rapidly, and now has over 40 million users.
The level of engagement on Google+ is quite high, and over 3.4 billion photos have been shared on it already. Google+ is already the number two social network after Facebook, which is way ahead.
Chrome is yet another Google success. It is one of the most popular browsers in the world, which continues to grow its market share every month. Over 200 million users now use Chrome. It is expected to overtake Firefox in terms of market share soon.
Check out the full statement by Larry Page here: Larry Page – Google+