EARNINGS: Google Just Keeps Growing
By Garth Johnston -- Broadcasting & Cable, 4/19/2007 11:19:00 AM MT
Google reported its first quarter results Thursday, posting revenues of $3.66 billion, up 63% from the same quarter last year and a 14% increase from the fourth quarter of 2006.
Google's net income for the quarter was $1 billion, or $3.24 per share, up from $592 million, or $2.02 per share, in 2006.
Google-owned sites generated revenues of $2.28 billion, 62% of the company's total revenues, up 76% from the previous year. The Mountain View, California-based company's partner sites generated another $1.35 billion for the company, an increase of 45%.
The total number of aggregate paid clicks on Google-served ads increased 52% from the previous year.
The company's traffic acquisition costs - the portion of the revenues which it shares with partners - increased to $1.14 billion in the first quarter, up from $976 million in the fourth quarter of 2006.
YouTube, which Google purchased last year for more than a billion, continues to be a point of pride for the company. Despite a federal copyright complaint filed by Viacom last month the video-sharing site's "growth is accelerating" according to Larry Page, co-founder and president of products.
On a world-wide basis, Google employed 12,238 full-time employees as of March 31, 2007, up from 10,674 from December 31, 2006.
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