Google exceeds Wall Street's forecast in Q2

Google topped Wall Street's earnings and revenue expectations in the second quarter.

Google Inc. topped financial analysts' revenue and pro-forma earnings expectations in its second quarter, which ended June 30, the Mountain View, California, company said.

Google had revenue of US$2.46 billion, a 77 percent increase over 2005's second quarter. Excluding the commissions it pays to third-party Web sites that belong to its advertising network, Google generated revenue of $1.675 billion. The consensus estimate from analysts polled by Thomson First Call had been for revenue of $1.646 billion.

Meanwhile, Google's net income came in at $721.1 million, or $2.33 per share, up from $342.8 million, or $1.19 per share. On a pro-forma basis excluding certain items, net income was $772 million, or $2.49 per share, higher than the analysts' $2.22 per share consensus estimate.

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