Google Q1 Results

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From the release:

Google reported revenues of $3.66 billion for the quarter ended March 31, 2007, an increase of 63% compared to the first quarter of 2006 and an increase of 14% compared to the fourth quarter of 2006. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs, or TAC. In the first quarter of 2007, TAC totaled $1.13 billion, or 31% of advertising revenues.

Google Sites Revenues Google-owned sites generated revenues of $2.28 billion, or 62% of total revenues, in the first quarter of 2007. This represents a 76% increase over first quarter 2006 revenues of $1.30 billion and a 15% increase over fourth quarter 2006 revenues of $1.98 billion.

Google Network Revenues – Google’s partner sites generated revenues, through AdSense programs, of $1.35 billion, or 37% of total revenues, in the first quarter of 2007. This represents a 45% increase over network revenues of $928 million generated in the first quarter of 2006 and a 12% increase over fourth quarter 2006 revenues of $1.20 billion.

International Revenues – Revenues from outside of the United States totaled $1.71 billion, representing 47% of total revenues in the first quarter of 2007, compared to 42% in the first quarter of 2006 and 44% in the fourth quarter of 2006. Had foreign exchange rates remained constant from the fourth quarter of 2006 through the first quarter of 2007, our revenues in the first quarter of 2007 would have been $23 million lower. Had foreign exchange rates remained constant from the first quarter of 2006 through the first quarter of 2007, our revenues in the first quarter of 2007 would have been $115 million lower.

I’m in the middle of something else but this appears to be another impressive quarter, at least for US earnings.

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More from the WSJ (sub req’d), PaidContent and Bloomberg. Here’s the earnings transcript.


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