Google posts better than expected results
Internet giant, Google has recorded better than expected quarterly earnings indicating that it is generating revenues from online search market.
The company reported that revenue climbed 33 percent and net income rose 26 percent, exceeding analysts’ expectations, in the quarter. Google usually does not provide sectorwise revenue figures, but it said that mobile sector was on track to generate more than $2.5 billion in revenue in the coming future.
Larry Page, Google’s chief executive said, “When I look back over the last quarter, the word that springs to mind is ‘gangbusters’, It’s not bad for a 13-year-old.” He added, “We are also seeing a huge positive revenue impact of mobile.”
Google makes Android mobile operating system and offers mobile search heavily dominates mobile search market. The company is also investing heavily in mobile market. However, the company has not announced how much Android and mobile ads contribute to the revenues.
The results come as a surprise to analysts who were critical of the company’s ability to maintain growth in the search market to keep up with the steady rate of impressive growth.