Google released its third quarter results on Thursday, October 13, revealing an excellent performance over the past three months that saw revenue increase by as much as 33 percent.
MSNBC notes that the company made a strong point of highlighting the apparent success of its Google+ social networking site. Since its introduction toward the end of the June, the site has added more than 40 million users, reaching that mark in less than one-eighth of the time needed by rival social networks Facebook and Twitter.
However, the news source notes that more in-depth analyses reveal that Google+ continues to see a decline in page views even as Facebook takes an ever larger portion of people’s time. Chitika Insights notes that Google+’s traffic has seen a 70 percent decline from the absolute highest to the absolute lowest points.
Nevertheless, CNN notes that Google’s strong report made it the leader of a rally in the market.
The company took this opportunity to cull some of its less successful endeavors, shutting down Buzz, its first failed social network, along with smaller programs like Code Search and Jaiku, according to CNN.