Google Has Record Quarter, $9 Billion in Revenue

Google has just reported its best quarter yet. The company had $9 billion in revenue in the second quarter of 2011, beating analyst expectations of just $8.6 billion. The great quarter has led stock price to rise more than 10 percent after the earnings report, the biggest growth in quite a while.

"We had a great quarter, with revenue up 32% year on year for a record breaking over $9 billion of revenue," Larry Page, Google's CEO, announced.

"I'm super excited about the amazing response to Google+ which lets you share just like in real life," he said, referring to the fast growth to the two-week old social network.

The biggest growth drivers were Google's own sites, which generated $6.23 billion in revenues, 69 percent of the total revenues. That's a 39 percent growth from the same period last year.

International sales were $4.87 billion, 54 percent of Google's second quarter revenue.

"GAAP net income in the second quarter of 2011 was $2.51 billion, compared to $1.84 billion in the second quarter of 2010. Non-GAAP net income in the second quarter of 2011 was $2.85 billion, compared to $2.08 billion in the second quarter of 2010," Google said in its earnings report.

With record revenue and income, it's no wonder that Google managed to swell its coffers again, despite the growing expenses. The company had $39.1 billion in cash and cash equivalents at the end of the quarter.

This was Larry Page's first full quarter as CEO. He left a poor impression at the last earnings call, only talking for a couple of minutes, but he was now present for the full call, gave a solid talk, which he posted to Google+ soon after, and stuck around to answer questions. Investors took notice and, thanks to the very solid numbers as well, confidence is growing in Google again.