In its second-largest acquisition, Amazon buys the company for $970 million.
Google Inc. chalked up another quarter of rapid growth, with revenue increasing 77% to $2.46 billion in the second quarter, up from $1.38 billion the year-earlier period. Net income soared 110% to $721 million.
Google Inc. chalked up another quarter of rapid growth, with revenue increasing 77% to $2.46 billion in the second quarter, up from $1.38 billion the year-earlier period. Net income soared 110% to $721 million, from $343 million in 2005.
Revenue from Google-owned sites rose 94% to $1.43 billion in the quarter from $737 million in 2005’s second quarter. That represented 58% of total revenue. Google Network revenue through its AdSense programs totaled $997 million, a 58% increase from $630 million in the year-earlier quarter. Network revenue represented 41% of total revenue for the quarter.
International revenue accounted for 42% of total revenue, compared with 39% in 2005. As of June 30, Google reported $9.82 billion in combined cash, cash equivalents, and marketable securities.
“Google grew at an impressive pace during a seasonally slower quarter,” said Eric Schmidt, CEO. “Our strong performance results from our clear focus on increasing the quality of user experience, particularly in search and ads.”
U.S. web traffic to the Google parent company grew 25% year over year in the second quarter, with a 3-month average monthly unique audience of 76.8 million to 95.9 million, according to Nielsen/NetRatings. Google Search was the top search provider in May, accounting for 49.1% of all searches in the U.S., according to Nielsen. The total number of U.S. searches conducted at Google has grown 34% year over year, from 2.1 billion in May 2005 to 2.8 billion in May 2006.