Google Financial Results

Google Q2 Financial Results Analysis

The analysis of Google’s Q2 financial results is now flowing in. Most analysts seem surprised – as I was – by the 32% jump in revenues. And this has seen the shares rise in late trading. The other surprise is the lack of progress in UK revenues. There is little comment on this so far. However, I have deeper into the presentation pack and found that the topline results are obscured by foreign exchange and GAAP caveats. If we exclude the impact of these it appears that Q2 2011 recorded UK revenue of $895 million, representing year on year growth of 17%.

The other interesting fact is the lack of profile Google’s results get in the UK press. Its not like we are inundated with good news. For example the telegraph relegates the story way down its “Tech” page. See illustration below.