Google Reported 17.7 Billion In Revenue Last Quarter – Thanks To Youtube And Mobile

For the past quarterly earning reports, Google had been having a bad time. But this time, Google has beaten the expectations in the April-June quarter with a net income of $3.9, which was $3.35 billion last year, the search engine giant reported. The advertising revenues spurred by 11% yearly  to make it to $17.7 billion.

The new Chief Financial Officer, Ruth Porat, said

Our strong Q2 results reflect continued growth across the breadth of our products, most notably core search, where mobile stood out, as well as YouTube and programmatic advertising. Shares soared almost 12 percent in after-hours trading.

Ruth Porat also said a part of the 60% surge of overall viewership spent on the website is all due to the time spent watching YouTube videos on smartphones or tablets.

Google acquired a total of $17.7 billion in revenue from the commencement of April to the end of June, which is an 11% increase. The net income has seen an increase to $3.93 billion, up from $3.35 billion, that the corporation earned last year, at this time. Sites owned by Google made $12.4 billion, up 13% year over year. Paid ad clicks have seen an 18% yearly increase, and paid clicks on Google’s websites saw a 30% yearly and 10% quarterly increase.

The company stated that if foreign exchange rates continued to be constant from Q2 2014 to Q2 2015, Google’s revenues would have been $1.1 billion higher.

Much like Facebook, Pinterest, and many other social networking sites, Google expects to boost its future earnings by attaching the ‘buy button’ on to mobile ads to make purchasing and shopping easier for smartphone users.

Google succeeded to accumulate a 31.42% share of funds spent on digital ads worldwide, last year. It is expected to slip marginally this year as leading social networking sited Facebook, gains ground, according to industry tracker eMarketer.

Google continues to dominate when it comes to online search-related advertising, with its share of the market this year expected to be 54.5 % according to the industry tracker.