Google has revealed its third quarter financial results. Google brought in $7.29 billion in revenue in Q3 2010. That's a 23 percent increase over last year's Q3. Google company got some growth in Q3 2009 even after 2009 was not a good for tech industry. This after an equally strong second quarter. Google also wanted to share a few that it hasn't before, the money it makes from display and mobile advertising. Google estimate to generate $2.5b from display ads and $1b from mobile ads.
Net income was even better, $2.17 billion, compared to $1.64 billion in Q3 2009, a 32 percent increase.
Eric Schmidt, CEO of Google said, "Google had an excellent quarter. Our core business grew very well, and our newer businesses -- particularly display and mobile -- continued to show significant momentum. Going forward, we remain committed to aggressive investment in both our people and our products as we pursue an innovation agenda."
Google also revealed for the first time how much some sections of its advertising business were generating. Display advertising, an area where Google has never excelled, is on track to bring in $2.5 billion revenue in the next year, based on Q3 numbers. The money comes from YouTube and the DoubleClick display ad network, though Google, once again, declined to say if the video site is profitable. The company has been saying that YouTube is well on its way of becoming profitable for more than a year now. It did provide another number though, 2 billion views are monetize every week, that's about one in seven views based on some earlier view numbers YouTube released.
Mobile advertising is also a Google's new billion dollar business. Based on Q3 numbers, mobile ads will generate $1 billion in revenue over the next year. But both the display and mobile ads should grow further so the actual figures may be even higher from this estimated value.
Login to add comments on this post.