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SOFTWARE INDUSTRY NEWS |
Google announces first quarter 2010 financial results |
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Google has posted 23% year over year revenue growth in the first quarter, which was driven by strength across all major verticals and geographies according to company CFO Patrick Pichette. Google reported revenues of $6.77 billion for the quarter ended March 31, 2010, an increase of 23% compared to the first quarter of 2009. In the first quarter of 2010, TAC totaled $1.71 billion, or 26% of advertising revenues. GAAP operating income in the quarter was $2.49 billion, or 37% of revenues, as against $1.88 billion, or 34% of revenues from the corresponding quarter of 2009. Net income was $1.96 billion, as compared to $1.42 billion in the same quarter in 2009. Earnings per share (EPS) was $6.06 on 323 million diluted shares outstanding as against $4.49 in the first quarter of 2009 on 317 million diluted shares outstanding. Google reported revenues of $6.77 billion for the quarter, with Google-owned sites generating $4.44 billion, or 66% of total revenues. Additional details on Google's financials are available on the company's statement. |
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