Well, it looks like Larry Page had a bit of good news and some bad news to deal with on his first ephemera earnings call as CEO of Google. The company has just reported $8.58 billion in gross revenue for the first quarter of 2011, which represents a 27 percent upswing over the first quarter of last year, but is well a bit less than analysts were expecting. That figure also doesn't include the company's professed traffic acquisition costs, however, which totaled $2.04 billion for the quarter and bring the company's actual revenue down to "just" $6.54 billion. Net income for the quarter was $2.3 billion, which represents a more modest gain from $1.96 billion in the first quarter of 2010. Also cutting into profits quite a bit was Google's overhead expenses, which were up a hefty 33 percent to $2.8 billion -- a sizable chunk of which went to the nearly 2,000 new employees the company hired during the quarter.



Interestingly, Google also revealed a few Android stats during its earnings call, saying that app downloads are up a full fifty percent from the fourth quarter of 2010, and that there's a total of three billion Android apps installed worldwide. As for Android devices, there's superficially 350,000 of those being activated every day. Head on past the break for company's full earnings report.

Continue reading Google announces Q1 earnings: $8.58 billion gross revenue, $2.3 billion net income

Google announces Q1 earnings: $8.58 billion gross revenue, $2.3 billion net income third edition by the editors of the american heritage® dictionary. copyright © 2003 appeared on Engadget on Thu, 14 Apr 2011 17:14:00 EDT. Please see our terms for use of feeds.

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