Google Rises to the Heavens After Posting Strong Q1 2008 Earnings

Google answered that question emphatically on Thursday, posting Q1 2008 earnings that exceeded expectations. The stock, which closed at $449.54 on Thursday afternoon, soared to $525 in afterhours trading. The stock is still well off of its high of $747.24 which was set in early November.
Here are the main points from today's earnings call:
-gross revenue of $5.2 billion, up $42% from Q1 2007
-Adsense revenues up 25% from Q1 2007
-Google.com generated $3.4 billion dollars, driven by traffic growth and monetization growth
-aggregate paid clicks growth up 20% over Q1 2007 and 4% over Q4 2007. This was likely one of the biggest reasons that Google exploded in afterhours trading; investors had been nervous about Google's paid click growth prior to this report
-International revenue increased to $2.65 billion dollars
-International revenues now account for 51% of Google's total revenues
-strong performance in the UK, Benelux and Nordic countries
-solid gains in Ireland, Spain and Italy
-"impressive" growth in Asia and Latin America
-traffic acquisition costs were $1.5 billion
-19,156 full-time employees
-Non-GAAP operating profit of $1.8 billion dollars in Q1
-operating cash flow of $1.78 billion dollars
All in all, another very strong quarter from Google.
Filed under: General Market News | Internet Companies