Google Beats In Q2 2012: Revenue Up 35 Percent To $12.21B, $2.79B In Net Income

Google just announced its second quarter 2012 earnings this afternoon, reporting revenues of $12.21?billion, an increase of 35% from the?first quarter ending March 31, which saw revenues of $10.65 billion. Minus traffic acquisition costs, Google pulled in $9.61 billion in revenue.?Non-GAAP EPS in the quarter was $10.12.?GAAP net income in the second quarter of 2012 was $2.79 billion, compared to $2.51 billion in the second quarter of 2011. Non-GAAP net income in the second quarter of 2012 was $3.35 billion, compared to $2.85 billion in the second quarter of 2011. Google was expected to report double-digit gains in both revenue and earnings, along with its first period results from its acquisition of Motorola Mobility.?Consensus forecasts pegged Google to report adjusted earnings of $10.05 per share and revenues of?$8.4 billion, excluding traffic costs.

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