Google announces first quarter 2010 financial results

Today Google has announced their financial earnings for the first quarter of 2010.  The first quarter ended March 31, 2010, with a reported revenue of $6.77 billion.  Compared to the first quarter results of 2009, Google has seen an increase of 23%.

Google sites revenues alone generated $4.44 billion in revenue, or 66% of total revenues earned, a 20% increase, $3.69 billion, over the first quarter of 2009.

Google network revenues, through Adsense programs, generated $2.04 billion, or 30% of total revenues, a 24% increase, $1.64 billion, over the first quarter of 2009.

Google’s international revenues outside of the United States generated $3.58 billion, or 53% of total revenues, compared to 52% of total revenues earned in the first quarter of 2009.  Generated revenues from the United Kingdom totaled $842 million, or 13% of revenues in the first quarter of 2010.

Google’s paid clicks seen an increase of 15% this quarter, compared to the first quarter of 2009. Traffic acquisition costs increased to $1.71 billion, compared to $1.44 billion in the first quarter of 2009.

Internet income and other, net increased to $18 million, compared to $6 million in the first quarter of 2009.

Stock-based compensation totaled $291 million, compared to $277 million for the first quarter of 2009.

Income taxes rate for Google was 22% for the first quarter of 2010.

Google’s operating costs for the first quarter of 2010 were $1.84 billion, which increased from $1.52 billion in the first quarter of 2009.  Operating income accounted for $2.49 billion, or 37% of total revenues, compared to $1.88 billion, or 34% of total revenues, in the first quarter of 2009.

Worldwide, Google employed 20,621 full-time employees as of March 31, 2010, up from 19,852 full-time ending December 21, 2009. 

Google’s financial earnings for the first quarter of 2010 are available here (PDF). If you're wondering how Google makes it money, watch the video below.

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