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Apr 16, 2011

Google Announces Q1 Earnings: $8.58 Billion Gross Revenue

Well, it looks like Larry Page had a bit of good news and some bad news to deal with on his first quarterly earnings call as CEO of Google. The company has just reported $8.58 billion in gross revenue for the first quarter of 2011, which represents a 27 percent increase over the first quarter of last year, but is actually a bit less than analysts were expecting. That figure also doesn't include the company's so-called traffic acquisition costs, however, which totaled $2.04 billion for the quarter and bring the company's actual revenue down to "just" $6.54 billion. Net income for the quarter was $2.3 billion, which represents a more modest gain from $1.96 billion in the first quarter of 2010. Also cutting into profits quite a bit was Google's operating expenses, which were up a hefty 33 percent to $2.8 billion -- a sizable chunk of which went to the nearly 2,000 new employees the company hired during the quarter.

Interestingly, Google also revealed a few Android stats during its earnings call, saying that app downloads are up a full fifty percent from the fourth quarter of 2010, and that there's a total of three billion Android apps installed worldwide. As for Android devices, there's apparently 350,000 of those being activated every day. Head on past the break for company's full earnings report.
 
 

16 comments:

Zombie said...

Thats a whole crap load of money!

Major.Mack said...

wowzers!

Grafted said...

Cool

sanahj said...

theyre so rich, i wish i had that much money

DrQmn1 said...

they're richer than many country!

JayPower said...

damn i wish i had a peice of that pie! google are so smart and inventive

Jim said...

Thats a lot of money, Google is just crazy.

ed said...

wow, i wish google would lend me a million

spaceman said...

Made respect to google.

They got shit/get shit done.

Alixander said...

Give me my money Google. I'm sure I deserve it by now.

Captain said...

Wow, that is a lot of money.

GoGoGoViral said...

jesus that's a boatload of money.

Jay said...

8 billion plus still falls short of their expectations?!

KrillKrones said...

Wow, that is amazing! Google owns this very blog site too... :)

N4M3L3SS said...

damn thats a shit load of apps

chronometer said...

excellent revenue. do want