Google Revenue Nears $10 Billion, 7.26€ Billion Sets New Record

Google has revealed its quarterly revenue report. In the third quarter, Google saw a big jump in revenue and income, past what analysts were expecting. The positive results led to a six percent spike in share price in after hours trading.

"Google reported revenues of $9.72 billion [7.06€ billion] for the quarter ended September 30, 2011, an increase of 33% compared to the third quarter of 2010," Google said in its release for investors.

"Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the third quarter of 2011, TAC totaled $2.21 billion [1.6€ billion], or 24% of advertising revenues," it explained.

Revenue from Google properties has seen an even bigger rise. Google sites accounted for $6.74 billion, 4.89€ billion, 69 percent of the total revenue. That's a 39 percent growth over last year's revenue of $4.38 billion, 3.18€ billion.

Income was on the rise as well, Google made a net profit of $2.73 billion, 1.98€ billion, up from $2.17 billion, 1.57€ billion, in the same quarter a year ago.

Earnings per share, according to GAAP, was at $8.33, 6.05€, up from $6.72, 4.88€ in Q3 2010. Non-GAAP EPS was $9.72, 7.06€, up from $7.64, 5.55€ a year ago. Analysts were expecting $8.77, 6.37€ EPS.

"Revenues from outside of the United States totaled $5.3 billion [3.85€ billion], representing 55% of total revenues in the third quarter of 2011, compared to 54% in the second quarter of 2011 and 52% in the third quarter of 2010," Google further explained.

The UK was again the biggest market outside of the US for Google. Revenue in the country was $1.05 billion [762€ million], 11 percent of Google's total revenue this quarter. It was 12 percent in Q3 of last year.

Google ended the quarter with $42.6 billion, 30.94€ billion in cash and equivalents, the biggest amount of money it's had to date. Google had $39.1 billion, 28.4€ billion in cash and equivalents at the end of the last quarter.