Google has seen an eventful quarter, with the release of the Google +1 button and the Google Plus social network representing a lunge into social, the Google Offers local service spreading into new regions, and partnerships with several new companies. Meanwhile, despite pressure from outside companies, Google’s search share has stayed stable in the U.S. (approximately 65.5 percent) and continued to grow around the world. Unsurprisingly, the second quarter figures showcase these new projects in the form of beautiful financial figures.
The first big figure for the day is $9.03 billion, the total company revenue. This figure represents a nearly 40 percent increase from last year’s second quarter revenue and a five percent increase from the first quarter revenues. That revenue boils down to a $2.51 billion income for the second quarter, which represents a 32 percent growth from the second quarter income of 2010. The company also holds plenty of cash, with current cash and cash equivalents reaching $39.1 billion.
It’s not just the sales figures that are continuing to grow, either. The first quarter of 2011, with its substantially lower income, had some investors concerned. Many sold or traded some of their Google stock after the Q1 report. However, the second quarter report – in combination with the release of the Google Plus social network – has led to new investor confidence, and a current stock value of approximately $600.00.
Additionally, Google’s hiring spree has yet to slow down. 2,400 new employees were added to the company roster, leading to the figure of 28,768 full-time employees at the close of the second quarter. This hiring figure is approximately the same as that seen in the first quarter of this year.