Internet giant Google reported bumper Q3 earnings of $2.2 billion, up 32 per cent year on year and almost a dollar more per share than analysts predicted.
The rise came as the company benefited from a boost in Internet advertising while paid clicks increased 16 per cent and the average price advertisers paid for clicks also increased 3 per cent. Other Google businesses contributed with YouTube views up 50 per cent adding another $1 billion of revenue.
Responding to criticism that company revenue was focused on search, Google revealed more details on internal business units than the company ordinarily does in earnings reports. These details show that while mobile operating system side project Android doesn’t earn Google money directly, the company made more than $1 billion in mobile advertising over the previous year.
“Android is much bigger than I could ever have hoped for," Google boss Eric Schmidt told analysts in an earnings conference call. Schmidt went on to say that Google expects mobile search will eventually exceed that of desktop PCs and that mobile search would be "a very, very strong revenue stream in comparison to PCs."