Google Has $42 Billion In The Bank
Google. Don’t know the lyrics to that song? Google it. Need the recipe your friend used last weekend? Google it. Need help writing a paper? Google it. Want to know the answer to a random question? Google it. We have all been there in a situation where you need to know something and someone’s first response or your first thought it “Google it”. Google is an extremely popular search engine with virtually all the information you could want. With the appearance of Google + it has also become a new social networking site as well, with its users up from 10 million to 40 million in the last quarter.
“Shares of Google are already up over 7% on the news or $43 a share at $590 in after hours trading. Google’s revenue was up 33%, AdSense Revenues were up 18%, paid clicks were up 28%, Cost per Click was up 5% and Google ended the third quarter with $42 Billion in the bank.”
Basically every source of income and revenue that could come in for Google is reported to be up quite significant percentages this quarter, only adding to the popularity and success of the Google business.
Here’s what Larry Page, the CEO of Google had to say about this quarter:
“”We had a great quarter. Revenue was up 33% year on year and our quarterly revenue was just short of $10 billion. Google+ is now open to everyone and we just passed the 40 million user mark. People are flocking into Google+ at an incredible rate and we are just getting started!””
Needless to saying Google has been extremely successful in the past and with the reports from this past quarter, as well as Google + going public, things will only be going up for Google if things keep on this track!