Google Announces $8.58 Billion in Gross Revenue

Google yesterday announced quarterly earnings for the first quarter of 2011. The company posted gross revenues of $8.58 billion, a 27 percent increase over the same $6.77 billion period in 2010. Revenues from outside of the United States totaled $4.57 billion, representing 53 percent of total revenues in the first quarter of 2011, compared to 52 percent in the fourth quarter of 2010 and 53 percent in the first quarter of 2010.

Net income was $2.3 billion, up from $1.96 for the same period last year, while EPS (earnings per share) was $7.04 on 326 million diluted shares outstanding. This is compared to $6.06 in the first quarter of 2010 on 323 million diluted shares outstanding. Operating income in the first quarter of 2011 was $2.80 billion, or 33 percent of revenues. This compares to operating income of $2.49 billion, or 37 percent of revenues, in the first quarter of 2010.    

Despite gross revenue being up 27 percent and net income jumping by 15 percent, both fell short of what analysts and Wall Street were anticipating.

Check out the full earnings report here.

Create a new thread in the US News comments forum about this subject
This thread is closed for comments
    Your comment
  • joytech22
    Haha they undershot their goal, even though they did incredibly well.
    I wonder who goes home with the most of the money in their pocket.
  • TheViper
    Mouse, that would be Net Income. $2.3 billion.
  • back_by_demand
    Funny how 47% of the income comes from 5% of the people in the world.

    Shows just how hard they are hit with Ads and how obvious it is that they are swayed by them, does that mean that people in the USA are 20 times more suseptible to suggestion? I'll test the theory...

    Buy a red car.........