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Google's quarterly earnings rise, but still lower than estimates

07-16-2010 10:23 BJT

SAN FRANCISCO, July 15 (Xinhua) -- Google Inc. on Thursday reported that its second-quarter revenues increased by 24 percent compared to the same period last year, but the number is still lower than analysts' estimates.

According to the company's press release, its second-quarter revenues reached 6.82 billion U.S. dollars, an increase of 24 percent compared to the second quarter of 2009, and net income was 1.84 billion dollars, compared to 1.48 billion a year ago.

The Internet searching giant reported a profit of 6.45 dollars per share while analysts surveyed by Thomson Reuters had expected 6.52 dollars on average.

"Google had a strong second quarter," said Google CEO Eric Schmidt in a statement. "Solid growth in our core business and very strong growth in our emerging businesses drove 24-percent revenue growth year over year."

Analysts said Google had increased spending to boost growth to compete with rivals like Microsoft, raising concerns that its profits may suffer.

Editor:Jin Lin |Source: Xinhua

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