Google Q1 financial highlights

Here are some of the highlights from the 2006 Earnings Report PDF and press release on Google's website. It looks as though Google has had a great first quarter with revenues up -- and in some cases by almost double from a year ago.

Here are some of the highlights from the 2006 Earnings Report PDF and press release on Google's website. It looks as though Google has had a great first quarter with revenues up -- and in some cases by almost double from a year ago.

Revenues - Google reported revenues of $2.25 billion for the quarter ended March 31, 2006, representing a 79% increase over first quarter 2005 revenues of $1.26 billion, and a 17% increase over fourth quarter 2005 revenues of $1.92 billion.  Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs, or TAC.

Google Sites Revenues - Google-owned sites generated revenues of $1.30 billion, or 58% of total revenues. This represents a 97% increase over first quarter 2005 revenues of $657 million and an 18% increase over fourth quarter 2005 revenues of $1.10 billion.

Google Network Revenues - Google's partner sites generated revenues, through AdSense programs, of $928 million, or 41% of total revenues.  This is a 59% increase over network revenues of $584 million generated in the first quarter of 2005 and a 16% increase over fourth quarter 2005 revenues of $799 million.

International Revenues - Revenues from outside of the United States contributed 42% of total revenues, compared to 38% in the fourth quarter of 2005 and 39% in the first quarter of 2005.  Foreign exchange rates had an immaterial impact on sequential international revenue growth.  Had foreign exchange rates remained constant from the first quarter of 2005 through the first quarter of 2006, our international revenues would have been $65 million higher.

"Google had an exceptional quarter with strong growth and profitability, from both Google properties and the network," said Eric Schmidt, CEO of Google. "We are driving this growth through investments in our infrastructure and our people, product innovations that attract new users, and relationships with advertisers and partners around the world.  The strength of our business model gives us the opportunity to invest in our business, allowing us to maintain and grow our market leadership." 

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