Google Blows it Out

Big quarter from the Googster ($GOOG) tonight, definitely what the Nasdaq needed to see.

Here’s Bloomberg:

Google Inc. (GOOG), owner of the world’s largest Internet-search engine, reported sales and profit that topped analysts’ estimates, a sign the company is benefiting from efforts to expand in mobile and display advertising.

Second-quarter sales, excluding revenue passed on to partner sites, rose to $6.92 billion, Mountain View, California- based Google said on its website. That topped $6.57 billion, the average estimate of analysts surveyed by Bloomberg. Net income gained 36 percent to $2.51 billion, or $7.68 a share, from $1.84 billion, or $5.71, a year earlier. Shares leapt in late trading.

Larry Page and Co are back to being an aggressive, quick-moving firm.  Here’s what The Street was most excited about:

Display market share should double from 4.5% in 2009 to almost 10%.  Android is adding 550,000 activated devices a day and has double Apple’s market share in smartphone OS.  Google+ is a runaway freight train as well and is shushing the naysayers that said Google was only good at search (10 million users of + so far, very rapid adoption).

Read more highlights below.

Source:

Google Tops Estimates, Shares Surge on New Ads (Bloomberg)