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Archive for July, 2011

Google is back on growth track

Thursday, July 14th, 2011

Google proved that it’s still a growth company. Google posted a quarterly profit of $2.51 billion, or $7.68 a share, up from $1.84 billion, or $5.71 a share, a year earlier. Total revenue was $9.03, up from $6.82 billion a year ago. Solid earnings boosted the stock price up by $67 after-hours.

Google CEO Larry Page mentioned that 10 million people have profiles in Google+ in just few weeks after its launch. 135 million Android devices have been activated so far. Android sees 550,000 activations per day meaning that consumers are buying that many new android phones per day all over the world.

For now, Google’s search business contributes most of its profits. However, Android and Google+ is going to contribute more profits to Google in the years to come.

Disclaimer: I own Google stock.

Related Link: Bloomberg Article

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