Google announces record revenues, sends shares soaring

By Aemon Malone Published July 14, 2011

Google today announced that its second quarter revenues surged 32 percent over a year ago to a company record of $9.03 billion. Those figures easily outpaced Wall Street’s projections and marked auspicious start to Larry Page’s new role as CEO.

“We have substantially increased our velocity and execution this quarter–a key goal of mine since taking over as CEO,” Page said earlier today during an earnings call. “It’s why I created a new, product focused management structure–with a clear leader responsible for each product area.”

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Page assumed the title of CEO after Eric Schmidt stepped down from the position in January of this year.

Google used today’s event to confirm that Google+, Google’s newly-launched social network, has already signed up 10 million users. “There’s also a ton of activity [on Google+],” Page said. “We are seeing over 1 billion items shared and received in a single day.”

Page also announced Google’s Android mobile operating system has been activated on 135 million devices around the world and Android is currently averaging an astounding 555,000 activations per day. Other figures touted by Page include the 160 million users of Google’s Chrome web browser and the 2.1 billion clicks the +1 social-sharing button gets everyday.

All of this was good news for Google and Wall Street responded by sending the company’s shares up over 12 percent. Google refrained from making any projections about the third quarter, but it’s hard to deny that momentum is overwhelmingly favoring the company as we approach the dog days of summer.

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