Google's Android operating system is a huge financial success. Android mobile search-and-display advertising annual revenue reached $1 billion for the year.
Overall, Google reported revenues of $7.29 billion for the quarter ending September 30, 2010, an increase of 23% as compared to the third quarter of 2009.
Google Mobile search queries have increased 500% over the past two years.
"Clearly, this is the future of search in the Internet," said Google senior vice president of product management Jonathan Rosenberg.
"Android is much bigger than I could ever have hoped for," Google CEO Eric Schmidt said. "Android can become a hugely profitable business for us. Search on mobile will eventually exceed that of PCs ... so, eventually, mobile will be a very, very strong revenue stream in comparison to PCs."
Android is now 17% of the U.S. smartphone market, according to comScore.