Google seeing success in mobile advertising

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Google's third-quarter earnings easily beat expectations, and its CEO noted that the company is starting to see the fruits of its mobile advertising investments.

While discussing the company's Q3 earnings, CEO Eric Schmidt said Google is making $1 billion in annual revenue from mobile advertising, a sign of success for its Android mobile operating system, according to the Financial Times.

Although Google's decision to sell Nexus One smartphones through a company website fizzled, the Android OS surpassed Apple's iPhone in popularity among new US users earlier this year.

Advertising-wise, the company bought AdMob, a mobile display ad network, in an all-stock deal valued at $750 million late last year.

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