Solid Q1 results set stage for Google's Page

Co-founder Larry Page takes over following a quarter with 27 percent revenue growth

Google reported solid growth in the first quarter, just as co-founder Larry Page prepares to usher in a new chapter in the company's history.

The search giant's revenue hit US$8.58 billion for the quarter ending March 31, a 27 percent increase compared to the first quarter last year. Subtracting commissions and fees paid to its advertising network and other partners, revenue was $6.54 billion.

Net income in the quarter was $2.30 billion, or $7.04 per share, compared to $1.96 billion or $6.06 in the same period in 2010, using generally accepted accounting principles. On a non-GAAP basis, net income was $2.64 billion, or $8.08, compared to $2.18 billion or $6.76 last year.

Analysts polled by Thomson Reuters were expecting revenue without commissions of $6.32 billion and non-GAAP earnings of $8.11.

Google-owned sites generated revenue of $5.88 billion in the quarter and partner sites generated revenue, through AdSense programs, of $2.43 billion. Revenue from outside the U.S. represented 53 percent of total revenue, up from 52 percent in the fourth quarter of 2010 but the same as the first quarter last year.

Earlier this year Google announced that Larry Page, the company's co-founder, would become CEO, taking over for Eric Schmidt who would become executive chairman. The change took effect April 4, so the new leadership doesn't impact first quarter results.

Google will host a conference call Thursday afternoon to further discuss the results.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesadvertisingInternet-based applications and servicesGooglefinancial resultsinternetsearch engines

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Nancy Gohring

IDG News Service
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?