Search engine company Google has reported that its second-quarter revenues grew 32% year-on-year, reaching a new high of over $9bn.

For the quarter ended 30 June 2011, Google reported revenues of $9.03bn, an increase of 32% compared to the second quarter of 2010.

Traffic acquisition costs (TAC) totalled $2.11bn, or 24% of advertising revenues for the quarter.

Google reports its revenues on a gross basis without deducting TAC.

This is company co-founder and CEO Larry Page’s first full quarter at the top.

"We had a great quarter, with revenue up 32% year on year for a record breaking over $9 billion of revenue," said Page

"I’m super excited about the amazing response to Google+ which lets you share just like in real life."

The company said that revenues from outside of the US totalled $4.87bn, representing 54% of total revenues in the second quarter of 2011, compared to 53% in the first quarter of 2011 and 52% in the second quarter of 2010.

Revenues from the UK totalled $976m, representing 11% of revenues in the second quarter of 2011, compared to 11% in the second quarter of 2010.

Google-owned sites generated revenues of $6.23bn, or 69% of total revenues, a 39% increase over second quarter 2010 revenues of $4.50bn.

Google’s partner sites generated revenues, through AdSense programs, of $2.48bn, or 28% of total revenues, in the second quarter of 2011. This represents a 20% increase from second quarter 2010 network revenues of $2.06bn.

Average cost-per-click increased approximately 12% over the second quarter of 2010 and increased approximately 6% over the first quarter of 2011.

Aggregate paid clicks increased approximately 18% over the second quarter of 2010 and decreased approximately 2% over the first quarter of 2011.

TAC, the portion of revenues shared with Google’s partners, increased to $2.11 billion in the second quarter of 2011, compared to TAC of $1.73 billion in the second quarter of 2010. TAC as a percentage of advertising revenues was 24% in the second quarter of 2011, compared to 26% in the second quarter of 2010.

However, operating expenses also grew to $2.97bn in the second quarter of 2011, or 33% of revenues, compared to $1.99bn in the second quarter of 2010, or 29% of revenues.

Operating income in the second quarter of 2011 was $2.88bn, or 32% of revenues, compared to operating income of $2.37bn, or 35% of revenues, in the second quarter of 2010.

Google said that the company employed 28,768 full-time employees as of 30 June 2011, up from 26,316 full-time employees as of 31 March 2011.

Net headcount growth (excluding approximately 450 employees hired as part of the acquisition of ITA Software) was similar to the first quarter of 2011.

The company’s net income in the second quarter of 2011 was $2.51bn, compared to $1.84bn in the second quarter of 2010. And net cash provided by operating activities in the second quarter of 2011 totalled $3.52bn, compared to $2.09bn in the second quarter of 2010.

The company said that it expects to continue to make significant capital expenditures.

The company reported cash, cash equivalents, and marketable securities were $39.1bn for the quarter.