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Google's Q3 2011 results, $9.72 billion in revenue, $2.73 billion in net income, 1 very happy CEO

Google post Third Quarter 2011 financial results

| Business, Financial & Legal News | Posted: Oct 17, 2011 9:29 am

"We had a great quarter" says Larry Page, CEO of Google. Google has made $9.72 billion in revenue, an increase of 33-percent from Q3 2010. GAAP net income is $2.73 billion versus $2.17 during the same period last year. Google also reported $9.02 billion in revenue last quarter, with $2.51 billion in net income. Not bad, Google.

 

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Analysts were expecting Google to earn $8.74 per share this quarter on a revenue of $7.21 billion, representing a more than 30-percent growth from last year. With these estimates, Google have blown away those expectations on both revenue and EPS, as non-GAAP EPS this quarter weer $9.72. Google has had a very active quarter, the acquisition of Motorola, and the public launch of Google's social networking site, Google+.

 

Google presently employs 31,353 full-time employees and has $42.6 billion in cash. Google's sales and marketing costs doubled from $661 million in Q3 2010 to $1.2 billion this quarter. Research and development costs went from $994 million to $1.4 billion. One of the more interesting items on the ledger... a $500 million charge from the Justice Department regarding pharmaceutical ads. Wow, spare change considering they have $42.6 billion in cash - hey Google, can I have a loan?

NEWS SOURCES:Investor.google.com

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