Google Inc.’s (GOOG-Q) attempt to catch up to rival Facebook Inc. in the race for social networking dominance got a boost on Thursday, as the search giant’s second-quarter results easily beat analyst expectations.
The company posted revenue of $9.03-billion (U.S.) for the quarter ended June 30, 2011 – a 32-per-cent increase from the same period last year. Profit in the second quarter rose to $2.51-billion or $7.68 a share, from $1.84-billion or $5.71 a share in the year-ago period. Excluding stock option costs, share profit for the quarter was $8.74. Analysts had expected profit of $7.86, according to Thomson Reuters I/B/E/S.
