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Google Announces $8.58 Billion in Gross Revenue

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Google has reported its revenue for the first quarter of 2011, posting $8.58 billion in gross revenue and $2.3 billion in net income.

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.

24 Comments Comment from the forums
  • joytech22 16 April 2011 14:52
    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.

    Reply
  • TheViper 16 April 2011 14:53
    Mouse, that would be Net Income. $2.3 billion.
    Reply
  • back_by_demand 16 April 2011 16:54
    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.........
    Reply
  • Kryan 16 April 2011 17:41
    red car? a Ferrari? (i live in Germany, so don't see much US ads).
    As for the profit, you all realise they now have 2,3 BILLION extra...I dont care if that is less than expected. That's STILL the reason I'm finishing up my studies to go and work for them!
    Reply
  • jfby 16 April 2011 18:39
    I would like to see how this compares with Facebook... not really, but good for Google. I'm not sure where the analysts thought they'd blow away last years numbers, but it's too bad that Google's share prices might drop even after such a good performance.
    Reply
  • TemjinGold 16 April 2011 18:50
    Net income was $2.3 billion, up from $1.96 for the same period last year,

    That's some crazy growth! :D
    Reply
  • CPU666d1 16 April 2011 21:31
    I don't mind using google's search engine,but I like to spread my search's among google,bing,yahoo and altavista. That way I can help the smaller search engine companies as well as the big one's.
    Reply
  • CPU666d1 16 April 2011 21:35
    To joytech22's comment,the directers,CEO's and the higher up managers.
    Reply
  • jkflipflop98 16 April 2011 21:48
    back_by_demandFunny 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.........
    AHAHAH yeah. . . what a shitty line of logic that is.
    Reply
  • ataryens 16 April 2011 21:59
    mouse24hi, sorry if im REALLY bad at this but, how do we tell what they made in pure profit, after server maint and worker expenses?
    2.3 billion for first quarter
    Reply