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article imageGoogle sees record sales and profits rise

By Tim Sandle     Jul 23, 2012 in Business
The technology giant Google has reported a large rise in profits for the second quarter of 2012, with income up by 11% compared with the previous year.
Google’s net income for quarter two has increased from $2.51 billion to $2.79 billion, for the quarter which ended on June 30, according to its Investor Relations site. This equates to an eleven percent rise in profits.
Significantly the increase in income reflects the first period since Google purchased Motorola Mobility Holdings. Motorola Mobility, Inc. is an American telecommunications equipment corporation.
In addition to the overall rise in income, revenue from Google’s core Internet business increased by twenty-one percent. The news led to a rise in Google’s share price.
Google CEO Larry Page, is quoted by Mobile Marketing as being pleased with the news and saying “Google standalone had a strong quarter with 21 per cent year-on-year revenue growth, and we launched a bunch of exciting new products at I/O – in particular the Nexus 7 tablet, which has received rave reviews. This quarter is also special because Motorola is now part of the Google family, and we’re excited about the potential to build great devices for users.”
CNN notes that Google makes most of its money from on-line advertising and through its smartphone Android applications. During the most recent quarter, Google also released its Nexus 7 tablet computer.
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