Google quarterly earnings beat estimates

Google on Thursday released its second fiscal quarter earnings with numbers far better than analysts' estimates. The Mountain View, California-based company reported revenue of 9.03 billion U.S. dollars for the quarter ending June 30, 2011, an increase of 32 percent compared to the same quarter of 2010. Excluding costs paid to partner websites, Google's revenue totaled 6.92 billion dollars, topping the average estimate of 6.57 billion dollars by analysts, according to Bloomberg. Google also posted a profit of 2.51 billion dollars, up nearly 36 percent from a year ago. Excluding some items, Google earned 8.74 dollars per share in the quarter, beating analysts' average estimate of 7.85 dollars per share. "We had a great quarter, with revenue up 32 percent year on year for a record breaking over 9 billion dollars of revenue," Larry Page, CEO and co-founder of Google, said in a statement. It was the full quarter for Page who took over the role of Google's CEO starting from April 4, and the results looked impressive. Google benefited from the recovery of online advertising market and its push into mobile and other businesses. According to Google, aggregate paid clicks related to ads jumped nearly 18 percent in the quarter from a year earlier, while average cost-per-click increased 12 percent year-on-year.