Google posts strong Q1 results

Posted By: Staff
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California, Apr 17: In the financial results for the quarter ended Mar 31, 2009 released on Thursday, Apr 16 Google reported revenues of $5.51 billion for the quarter ended March 31, 2009.

In spite of the global economic recession Google's reports show an increase of 6% compared to the first quarter of 2008 and a decrease of 3% compared to the fourth quarter of 2008. GAAP net income for the first quarter of 2009 was $1.42 bn as compared to $382 mn in the fourth quarter of 2008.

Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the first quarter of 2009, TAC totaled $1.44 billion, or 27% of advertising revenues

"Going forward, our priority remains investing for the long term to drive future growth in our core and emerging businesses," said Eric Schmidt, CEO of Google.

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