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Google posts net profit of $1.84 billion on revenues of $6.82 billion for 2Q 2010

Google has reported a growth of 24.3 per cent in its net income at $1.84 billion for the second quarter ended June 30, 2010, as compared to $1.48 billion for the second quarter of 2009. Revenues increased by 23.5 per cent to $6.82 billion during the second quarter of 2010 from $5.52 billion posted for the June 2009 ended quarter.

Google has reported a growth of 24.3 per cent in its net income at $1.84 billion for the second quarter ended June 30, 2010, as compared to $1.48 billion for the second quarter of 2009. Revenues increased by 23.5 per cent to $6.82 billion during the second quarter of 2010 from $5.52 billion posted for the June 2009 ended quarter.

“Google had a strong second quarter,” Eric Schmidt, chief executive officer, Google, has said. “We saw strength in every major product area, as more and more traditional brand advertisers embraced search advertising and as large advertisers increasingly ran integrated campaigns across search, display, and mobile.”

In the second quarter of 2010, Google-owned sites generated revenues of $4.50 billion, or 66 per cent of total revenues, while its partner websites generated revenues, through AdSense programmes, of $2.06 billion, or 30 per cent of total revenues. Traffic acquisition costs (TAC), the portion of revenues shared with the partner websites, totalled $1.73 billion, or 26 per cent of advertising revenues.

Revenues from outside of the United States totalled $3.53 billion, representing 52 per cent of total revenues in the second quarter of 2010. Revenues from the United Kingdom totalled $770 million, representing 11 per cent of revenues. As of June 30, 2010, Google had a cash, cash equivalents, and short-term marketable securities of $30.1 billion and employed 21,805 full-time employees globally.

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