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The gap between Facebook and Google+ (Google Plus), Google's newly launched social networking tool, is also set to reduce, the brokerage said. "Google Plus is off to a very strong start, with probably more than 55 million user signups so far. Google may launch many more new Google Plus Service offerings within the next 3 - 6 months," analyst Trip Chowdhry wrote in a note. The brokerage added that the launch of a new advertisement format called TrueView on Google's YouTube has helped raise advertisement spending on the popular video-streaming site, which is up 5-10 percent sequentially. "eMarketers we spoke to are spending their search advertisement dollars between 80-85 percent on Google, about 10 percent on Microsoft Bing and Yahoo combined, and the remaining on other search engines," analyst Chowdhry wrote. The brokerage raised its FY 2011 earnings per share estimate to $36.37 from $35.75, and FY2012 EPS estimate to $47.83 from $45.33 to reflect strength in Google's core search business, pickup in YouTube, and a strong start to Google Plus. Shares of Mountain View, California-based Google, after rising to $551.33, were trading at $550 on Wednesday on Nasdaq. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Supriya Kurane) Technology Hot Stocks Asian Markets Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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