Friday, 18 April 2008

Google Reports Q1 Financials

Internet giant Google Inc. reported its first quarter of 2008 earnings at 5.19 billion dollars, an increase of 42% compared to the first quarter of 2007 and an increase of 7% compared to the fourth quarter of 2007.

"Our ongoing innovation in search, ads, and apps helped drive healthy growth globally across our product lines, yielding another strong quarter for Google," said Eric Schmidt, CEO of Google.

"As we integrate DoubleClick into our advertising platform, we see exciting new ways to improve the user experience and increase value for our advertisers and partners. Also, while exercising operational discipline, we continue to explore opportunities that add value to users everywhere and to Google in the long term."

Google said incorporating Internet advertising solutions company DoubleClick was immaterial to revenue in this quarter and only slightly dilutive to both GAAP and non-GAAP operating income.

On a worldwide basis, Google said it employed 19,156 full-time employees as of March 31, 2008, up from 16,805 full-time employees as of December 31, 2007.

Of the 2,351 employees added in the first quarter of 2008, approximately 1,500 were associated with DoubleClick.

Since the close of the acquisition, a Google conducted a review of its ongoing headcount revealed that approximately 10% of the DoubleClick workforce was laid off in the U.S. in early April.