Google Reports Accelerated Revenue Growth in Q2

Amid the hype of its recent Google+ launch, the company reported accelerated growth compared to the same period last year. Google today reported a 32 percent rise in revenues during Q2 2011 compared to the second quarter 2010.

The firm said it raked in $9.03 billion in the quarter ending June 30, 2011, representing a speedier growth rate compared to Q2 2010, when revenues clocked in at $6.82 billion, up 24 percent over Q2 2009. In Q1 2011, revenues grew 27 percent over the same quarter in 2010.

Google's ad sales force is getting better at offering integrated packages to clients, said Nikesh Arora, Google's SVP and chief business officer, speaking during this afternoon's earnings call with investors. Key international markets included the UK, where small advertisers are driving growth, along with emerging markets like Brazil and Russia, said Arora.

Google has experienced minor fluctuations in the breakdown of its revenues derived from its owned properties and its massive ad network. This past quarter, owned sites brought in 69 percent of all revenues, or $6.23 billion, compared to 66 percent or $4.5 billion in Q2 2010. The network accounted for 28 percent of revenues or $2.48 billion this past quarter, compared to $2.1 billion, or 30 percent in Q2 2010.

According to comScore, Google's ad network was the largest provider of online advertising in May by unique audience and reach. Yahoo's owned and operated sites and AOL's network came in second and third places, respectively.

Google's net income also rose over the same period last year. That number hit $2.51 billion in Q2 2011, over $1.84 billion in second quarter 2010.

Google reported a leap in volume of paid clicks on both its own sites and those in its network of around 18 percent compared to Q2 2010. Average cost-per-click on ads served on its site and in the network rose around 12 percent year-over-year.

On today's call, Google CEO Larry Page touted that over 10 million people have joined Google+, the company's most recent social media initiative. Google hired an additional 2,450 people in the quarter, bringing its fulltime employee pool to 28,000.