Google Rakes In Billions In Profits In Q2 OZ Profits Not Disclosed
Currently under investigation by the Australian Tax Office and facing a Senate Inquiry into their Australian tax minimisation scheme Google has reported second-quarter net income of $3.93 billion, this is up from $3.35 billion from the same period 12 months ago.
Revenue rose 11% to $17.73 billion. Excluding traffic-acquisition costs-the revenue Google shares with other companies that syndicate its search results-revenue totaled $14.35 billion, above the average analyst forecast of $14.27 billion.
Excluding currency fluctuations, Google said its revenue in the June quarter would have improved 18%.
The company’s new financial chief, Ruth Porat, who joined from Morgan Stanley in May, said in prepared remarks Thursday that the latest results reflected “continued growth across the breadth of our products, most notably core search, where mobile stood out, as well as YouTube and programmatic advertising.”