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Google reports 24% revenue growth, Q2 2010 Financial Results Announced

Google announced the financial results for quarter ended June 30, 2010. “Google had a strong second quarter,” said Eric Schmidt, CEO of Google. “Solid growth in our core business and very strong growth in our emerging businesses drove 24% revenue growth year over year. 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. We feel confident about our future, and plan to continue to invest aggressively in our core areas of strategic focus.”

Q2 Financial Summary: “Google reported revenues of $6.82 billion for quarter ended June 30, 2010, an increase of 24% compared to Q2 2009. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In Q2 2010, TAC totaled $1.73 billion, or 26% of advertising revenues.”

More Info: Press Release

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