Google+ hits 40M users

It still has a long way to go before catching up with Facebook, but Google Inc. is happy with the growing user base of its upcoming social network Google+, which it said has reached the 40-million mark. Google CEO Larry Page claimed people are "flocking into Google+ at an incredible rate" as he announced the financial results for the quarter. "Google+ is now open to everyone and we just passed the 40 million user mark. People are flocking into Google+ at an incredible rate and we are just getting started!" he said. He also said Google had a "great quarter," with revenue up 33 percent year on year, and quarterly revenue was "just short of $10 billion." Google recently opened its Google+ to the public, removing the requirement to get an invite to join the social network. But Google+'s membership remains a tiny fraction of that of Facebook. Facebook, which started in 2004, presently claims to have 800 million users. Meanwhile, Google reported revenues of $9.72 billion for the quarter that ended September 30, a 33-percent hike compared to the third quarter of 2010. It added Google-owned sites generated revenues of $6.74 billion, or 69 percent of total revenues, in the third quarter - a 39-percent increase over third quarter 2010 revenues of $4.83 billion. Google said its partner sites generated revenues, through AdSense programs, of $2.60 billion, or 27 percent of total revenues. This represents a 18-percent increase from third quarter 2010 network revenues of $2.20 billion. Revenues from outside of the United States totaled $5.3 billion, representing 55 percent of total revenues in the third quarter of 2011, compared to 54 percent in the second quarter of 2011 and 52 percent in the third quarter of 2010. Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of Google's AdSense partners, increased 28 percent over the third quarter of 2010 and increased 13 percent over the second quarter of 2011. Operating expenses, other than cost of revenues, were $3.28 billion in the third quarter, or 34 percent of revenues, compared to $2.19 billion in the third quarter of 2010, or 30 percent of revenues. Google said it employed 31,353 full-time employees as of September 30, 2011, up from 28,768 full-time employees as of June 30, 2011. — TJD, GMA News