Google Beats Absurdly High Expectations
The stock market and analysts say Google will do great, and it does even better. How do they pull it off? …
Google has posted a sixfold increase in profits for the first quarter of this year. Google managed to top the profits estimate by $120 million, and the revenue estimate by $150 million. Google’s revenues were a record $1.256 billion, 93% higher than a year ago. Net income, after deductions and stock-based compensation, was $369 million or $1.29 per share, up from $64 million and 24 cents a year ago.
Google-owned site ad revenue made up to 52% of profits, up from 51% last quarter, while AdSense sites made up 47%, down from 48% three months ago. Google saved another $400 million, with cash reserves of $2.507 billion, up from $2.132 three months ago.
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