Breaking News: Google reports Blockbuster Q1 results as I expected! Google reported earnings for the first quarter of: $5.16 versus $4.93 per share estimate. Revenue reported for Q1 was: $5.51 billion growing 6% from Q1 2008. Revenue generated from Google owned sites was $3.7 billion versus an estimate of $3.54 billion. Paid click growth of 17% beats estimates. Google added $2 billion is cash!
Shares look to be gaining steam after hours trading as high as 410 per share.
Highlights from conference call 4:30 PM Thursday April 16, 2009:
- Google is feeling impact of recession
- Companies are lowering bids for click cost
- Priorities for Google remain to be long term growth
- Good quarter driven by traffic growth
- International revenue accounted for 52% of total revenue
- Seasonal uptick in Q1 in the UK
- Ireland and Spain were weaker
- China and Brazil performed very well with stronger growth YOY
- Lower labor costs due to resetting company bonus plan
- Google continues to hire only in critical areas, and laying off 20 employees in sales/marketing
- Adopted a conservative approach to investing
- Realized gains on investments of $32 million
- Google pleased with Q1 results
- Remain focused and will not cut any corners on growth agenda
- Search based advertising: Most advertisers do not max out their current daily budgets therefore Google is investing in tools to make the process easier for sellers to create additional useful keywords which may fulfill budgets
- Google is motivated to create the best search environment as well as maximizing revenue
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1 comments:
good recap! thks for it
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