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October 13, 2011 - Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter ended September 30, 2011.
"We had a great quarter,” said Larry Page, CEO of Google. “Revenue was up 33% year on year and our quarterly revenue was just short of $10 billion. Google+ is now open to everyone and we just passed the 40 million user mark. People are flocking into Google+ at an incredible rate and we are just getting started!"
Q3 Financial Summary
Google reported revenues of $9.72 billion for the quarter ended September 30, 2011, an increase of 33% compared to the third quarter of 2010. 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, or 24% of advertising revenues.
Google revenue growth numbers should be plotted against unemployment numbers.
Correlation does not equal causation.
Silicon: I just noticed that Adsense accounts for 2.6 billion of the 9.72 billion in revenue. Is that surprising to anyone?
Google’s partner sites generated revenues, through AdSense programs, of $2.60 billion, or 27% of total revenues, in the third quarter of 2011. This represents a 18% increase from third quarter 2010 network revenues of $2.20 billion.