Google posts better than expected second quarter earnings

Google posts better than expected second quarter earningsInternet giant, Google has recorded a better than expected results for the second quarter of the year 2012 as its revenues increased to $12.21 billion.

Google had recorded revenue of $10.65 billion in the previous quarter. The company said that its EPS rose to $10.12 for the quarter from April to June 2012 compared to $10.08 per share during the earlier quarter. The company also said that its net income has risen 11 per cent. The analysts were expecting the company to record an EPS of around $10.04 per share for the quarter.

The results are combined with Motorola Mobility as a subsidiary for the first time. Motorola's contribution to the total revenues stood at of $1.25 billion during the quarter.

CEO Larry Page in a statement said that that the company recorded a growth of 21 in its revenues compared to the same quarter in the previous year, on its own. He also said that the company has launched its new Nexus 7 Android tablet and has thus entered the hardware segment.

CFO Patrick Pichette noted that the company’s total workforce has risen to about 54,600 full-time employees during the quarter, most of those being workers at Motorola Mobility.