Google Posts Profit and Revenue Gains, Increases CapEx Spending

Monday Jul 19th 2010 by Ainsley Jones
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Google reported revenues of $6.82 billion for the second quarter of the year, an increase of 24 percent compared to the same period last year.

Google posted a 24 percent rise in its second quarter profit to $1.84 billion, reports iTWire. Regarding the quarter ending June 30, 2010, Google CEO Eric Schmidt said the quarter demonstrated "Solid growth in our core business and very strong growth in our emerging businesses."

With the company's revenue and profit growing 24 percent year on year, Google continued to invest in its infrastructure. The search giant's capital expenditure for the quarter was $476 million, more than doubling the previous quarter. Most of Google's capex spending has been attributed to IT infrastructure investments. Data Center Knowledge speculates that the jump in capex spending could represent work on yet to be announced data center construction projects or expansion of existing sites.

 

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