Google has made a couple of announcements over the past few weeks to demonstrate it’s innovating in some surprising areas – self-driving cars and wind transmission projects. But at the company’s quarterly earnings call today, Google made it clear that it is excelling in the area in which it has been best known: search advertising. And revenue from that helped push Google to a better-than-expected report today, with revenue up 23% and net income up 32%.
Google posted a third quarter revenue of $7.29 billion. But in addition to just touting overall numbers, Google also gave a glimpse into some of the areas that comprise this growth, pointing to the areas that may be the company’s next multi-billion dollar business.
Google revealed that display advertising – non-text ads that appear on YouTube and other sites – is generating nearly $2.5 billion in revenue. And mobile ads are expected to bring in another $1 billion. These are still just a small part of Google’s overall revenue from advertising.
And while Google did not reveal revenue numbers associated with YouTube, it did say that it is monetizing 2 billion views per week, up 50% from last year. Google also said that the introduction of Instant Search has had minimal impact on revenue.
Saying it was moving forward “full throttle,” Google reaffirmed its commitment to new ideas and new employees, noting that the company added over 1500 employees in the third quarter.