Internet giant Google has reported a large rise in profits and revenue, well ahead of market expectations. Net profit for the three months to June rose 36% on the same period last year to 2.5 billion dollars, while revenues rose 32% to 9 billion dollars. Last month, Google launched its social networking site Google+, in an attempt to take on Facebook.The results were the first under chief executive Larry Page, who replaced Eric Schmidt in April. Mr Schmidt had held the role for 10 years. Analysts said the decision for Google co-founder Mr Page to take over was made because he now carries more weight with investors and could re-energise the search giant. The results will help reassure investors that the company is still thriving under his leadership.
News On AIR | July 15, 2011 9:07 AM
Google records large rise in profits and revenue