Google Q1 Earnings Mostly Positive

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Google Q1 Earnings Mostly Positive

By: Mike Sachoff
2009-04-17

Google has once again surprised analysts and investors by beating expectations in the first quarter of 2009.

Google reported revenues of $5.52 billion for the quarter, an increase of 6 percent compared to the first quarter of 2008, but a decrease of 3 percent compared to the fourth quarter of 2008.

Estimates of earnings per share were in the $4.90 to $4.95 range, Google posted earning per share of $516 beating Wall Street analyst's expectations. Paid clicks were up three percent over the fourth quarter of 2008.

"Google had a good quarter given the depth of the recession -- while revenues were down quarter over quarter, they grew 6% year over year thanks to continued strong query growth. These results underline both the resilience of our business model and the ongoing potential of the web as users and advertisers shift online," said Eric Schmidt, CEO of Google.

"Going forward, our priority remains investing for the long term to drive future growth in our core and emerging businesses."

Google also announced that Omid Kordestani, formerly senior vice president, global sales & business development will now be senior advisor office of the CEO and founders.

Nikesh Arora will move form president of international operations to his new role as president, global sales operations & business development. Arora will have responsibility for all of Google's revenue and customer operations, as well as marketing partnerships.

View All Articles by Mike Sachoff

About the Author:
Mike is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.


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