Google’s reported an upbeat net income for the second quarter from the same period a year ago on Thursday, boosted by advertising sales, which sent the company’s shares higher during the late trading hours.
Net income, including Motorola, which is sold to Lenovo Group; jumped to $3.42 billion or $4.99 a shares in the second quarter, compared to $3.23 billion or $4.77 a year earlier, the recent financial statement revealed.
While net profit, excluding sales passed on to partners, came in at $12.7 billion, surpassing analysts’ estimates of $12.3 billion, a statement from the company showed.
The statement also revealed that net profit excluding Motorola, came in at $4.5 billion or $5.09 per shares, rising by 26% from the same period last year.
Advertising Sales
Revenue for the quarter increased 22% to $15.96 billion, up from the $13.1 billion seen in the same period last year, boosted by advertising sales.
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Google’s chief executive Larry Page will be adding new features in mobile, web services and videos to increase user traffic and attract marketers as he intends to boost Google’s main ad business.
Net-income for the second quarter, excluding traffic acquisition costs came in at $12.67 billion from the $11.1 billion recorded a year earlier, reports showed.
Google also said that its Chief Business Officer Nikesh Arora will be stepping down to become vice chairman of SoftBank and CEO of SoftBank Internet and Media. Omid Kordestani, Google’s business founder and was the company’s senior adviser, will take over Arora’s role, Google said.
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