Google posts 27% increase in revenues; Q1 earnings slightly miss mark
Google posts 27% increase in revenues; Q1 earnings slightly miss mark
Internet juggernaut Google has released its financial results from the first-quarter of 2011, and things are looking pretty good. The company posted revenues of $8.58 billion during the quarter — which represents a 27% increase year-over-year — with $5.88 billion of that figure being generated by Google-owned websites. The company failed to meet Wall Street’s earning expectations, however, coming in $0.03 shy of the predicted $8.11 earnings per share. “These results demonstrate the value of search and search ads to our users and customers, as well as the extraordinary potential of areas like display and mobile,” said Patrick Pichette, the company’s CFO. ”It’s clear that our past investments have been crucial to our success today–which is why we continue to invest for the long term.” said Patrick Pichette, the company’s CFO. The company’s stock was trading down nearly 5% in after-hours trading at time of article writing. The full Q1 report is after the break. More →

