Google Survives Q1 Financial Report
Analysts and investors were ready for just about anything this afternoon, with predictions of what Google’s first quarter would look like ranging from complete failure to yet another blow-’em-out-of-the-water success. The real numbers landed somewhere in between, but – to most people’s relief – rather more on positive side.
Google reported $4.07 billion in revenue ex-TAC. Although it was widely expected that Google’s first-ever quarterly decline would occur, this kept the decrease to just three percent. On a year-over-year basis, meanwhile, a six percent increase occurred.
Then, in terms of earnings per share, the search giant also did all right. Popular estimates were in the $4.90 to $4.95 range, and Google posted $5.16, better even than last quarter’s $5.10. Paid clicks were up three percent in the same period, too.
As for some other stuff, Google trimmed its number of fulltime employees by 58 between December and March. And on a larger scale, it decreased operating expenses by $130 million.
Finally, there’s one personnel change worth noting. Omid Kordestani, who held the title "Senior Vice President, Global Sales & Business Development" will now be "Senior Advisor, Office of the CEO and Founders." Nikesh Arora, who’s worked for Google in Europe for over four years, will more or less take his place with the title "President, Global Sales Operations and Business Development."
All in all, this group of developments has put Google’s stock up 1.47 percent in after-hours trading.