Why is Google CEO Eric Schmidt so "ecstatic"? Pictures say 3.66 billion words!
Google's quarterly report to Wall Street ritual went as expected today: Business at Google continues to be very strong, very, very strong!
What's more, Schmidt is confident that there is more, much more to come, in Google's future:
The global growth of our core search and ads business and our focus on building our partnerships drove our strong results in the quarter. We continued to expand our worldwide footprint, adding important new partners and growing our platform to increase our ability to deliver targeted and measurable ads.
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.
In the first quarter of 2007, traffic acquistion costs (TAC) totaled $1.13 billion, or 31% of advertising revenues. In terms of percentage of advertising revenues, TAC has been trending down.
TO WHAT DOES GOOGLE ATTRIBUTE ITS GREAT FORTUNES?
IS ALL WELL IN THE GOLDEN GOOGLE KINGDOM? NO! SEE: