Google Beats The Street in Latest Earnings

Google Beats The Street in Latest Earnings 300x145 Google Beats The Street in Latest EarningsOn Thursday, Google announced financial results for the quarter ended March 31, 2012. And, once again, the Internet search giant beat the street.

Sales ballooned to top $8 billion as the company announced a 2 for 1 stock split.

Google-owned sites generated revenues of $7.31 billion, or 69% of total revenues, in the first quarter of 2012.

Google’s partner sites, meanwhile, generated revenues of $2.91 billion, or 27% of total revenues, in the first quarter of 2012. This represents a 20% increase from first quarter 2011 network revenues of $2.43 billion.

Revenues from outside of the United States totaled $5.77 billion, representing 54% of total revenues in the first quarter of 2012, compared to 53% in the fourth quarter of 2011 and 53% in the first quarter of 2011.

“Google had another great quarter with revenues up 24% year on year,” said Larry Page, CEO of Google. “We also saw tremendous momentum from the big bets we’ve made in products like Android, Chrome and YouTube. We are still at the very early stages of what technology can do to improve people’s lives and we have enormous opportunities ahead. It is a very exciting time to be at Google.”



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