During a conference call to discuss the company's third quarter financial results, Page outlined the significant effect he foresees Google+ having on the company's business.

"Our ultimate ambition is to transform the overall Google experience -- making it beautifully simple, almost automagical, because we understand what you want and can deliver it instantly," he said.

"This means baking identity and sharing into all of our products so that we build a real relationship with our users. Sharing on the web will be like sharing in real life across all your stuff. You’ll have better, more relevant search results and ads," he added.

Although it has been clear since its launch in June that Google+ is a key initiative at Google, Page's latest comments leave no doubt that much is riding on the success of the social networking site.

"Think about it this way: last quarter, we shipped the 'Plus', and now we’re going to ship the Google part," he said.