Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Google Inc (GOOG) Android Mobile App Revenue Climbing Fast

Being a major player in the mobile app market is not good enough for any company, especially Google Inc (NASDAQ:GOOG). Those that are making waves in this space need more than users and downloads. They also need revenue. Fortunately for the search engine company, this doesn’t appear to be a problem right now.

Google Inc (GOOG) Android Mobile App Revenue Climbing FastAccording to a recent report by ABI Research, “Android’s smartphone mobile app revenues are projected to reach almost $6.8 billion by the end of 2013.”

That is a huge number, and one that you should take a second look at for another reason: is just about double from the previous year.

So not only is Android raking in billions in revenue, but it is growing at a fast pace.

Is Google Inc (NASDAQ:GOOG) Closing in on the Top?

It goes without saying that Android would love to catch iOS in terms of smartphone revenue. While the company has a way to go before that happens, there is no denying that it is moving in the right direction.

New data from ABI shows that smartphone app revenue for Android is set to increase from 59.1% to 65.9% when compared to iOS over the next 12 months.

Josh Flood, senior analyst for ABI, noted that iOS is well out in front of the rest of the competition but that a growing number of Android smartphones is allowing it to bite into Cupertino’s lead.

He also added that Android smartphones are expected to “ship by a factor of more than three-to-one to iPhones” this year.

Google Inc (NASDAQ:GOOG) appears to be doing whatever it takes to push its mobile app revenue to new heights, including the use of app advertising, a space in which the company is very comfortable.

The report notes that Android’s incorporation of carrier billing for app purchases is also a benefit when compared against in-house payments used by iOS.

As long as Google continues to worry about itself, not what iOS and the competition is doing, it can expect more of the same in the mobile app market in the years to come. This market is poised to grow more and more, putting Android in position for huge success.

Numbers like these are the ones that get investors excited. This is why the following hedge fund managers continue to invest heavily in Google Inc (NASDAQ:GOOG): Robert Karr, Christopher Hansen, Daniel Benton, Gregory Bylinsky, and Sandy Nairn.

Check out the following video for more information on Google Play:

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.