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Posted at 05:39 PM ET, 07/14/2011

Google posts positive second quarter


Google shares jumped in after-hours trading. (Brendan Hoffman - GETTY IMAGES)
Google announced its second quarter earnings Thursday, showing a 32 percent increase in revenue over the same period last year.

Google CEO Larry Page said in a statement that the company had a great quarter and that he’s “super excited about the amazing response to Google+ which lets you share just like in real life.”

In an earnings call, Page confirmed that the network had over 10 million users. He also said that Google is focusing on its search and products as the company explores new opportunities such as its new social network.

The company seemed to go slightly astray after its first quarter this year, but the second-quarter report beat analyst estimates with $9 billion in revenue. Google-owned sites generated 69 percent of total revenues.

A couple raindrops on the parade: paid-click numbers were down 2 percent from the last quarter, despite being 18 percent higher than they were last year. Google is also spending a lot on hiring — mostly for research and development — and Page said that changes to employee compensation last quarter has helped the company hire and retain Googlers.

Overall, it was a good showing for Page’s first full quarter as CEO after taking over from Eric Schmidt in April. And Page was much more involved in this quarter’s earning call, giving a statement and participating in the Q&A session. He had been criticized for making only a quick, cameo appearance in the call last quarter.

Shares jumped in after hours trading, up almost 12 percent at time of writing.

Related stories:

Google Plus could hit 10 million users today

Google Plus lingo: What are you using?

By  |  05:39 PM ET, 07/14/2011

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