Brazil among Google's fastest growing markets in Q3, exec says

Friday, October 14, 2011

Brazil and India were among the fastest growing markets for Google (Nasdaq: GOOG) in the third quarter of the year, company chief business officer and executive VP Nikesh Arora told a conference call with investors.

"Both of them are very, very important markets for us. Our products are successful. You see search traffic continuing to rise. YouTube is very popular. Chrome is very popular," the executive said. "So really, we're very happy with the usage of our products, and we believe there's a tremendous sort of runway in product usage in those markets because of the changing characteristics of those markets - both from an online penetration perspective and the economic growth perspective."

Google posted a quarterly net profit of US$2.73bn, up compared to US$2.17bn in the third quarter of 2010, the company said in its earnings statement.

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The company's revenues for the quarter totaled US$9.72bn, up 33% compared to US$7.29bn in the year-ago period.

Google-owned sites generated revenues of US$6.74bn, or 69% of total revenues, in the Q3. This represents a 39% increase over 3Q10 revenues of US$4.83bn.

Meanwhile, revenues from operations outside the US totaled US$5.3bn, representing 55% of total revenues in the quarter.