Google Enjoys 79% Rise In Revenues

Search engine giant, Google, has reported revenues of $2.25 billion for the first quarter of 2006, an increase of 79% compared to the same period in 2005.

Operating profit for Q1 2006 reached $743 million, accounting for 33% of revenues, up from $570 million in Q1 2005. Net income for the first quarter hit $592 million, compared to $372 million in the fourth quarter.

Commenting on the results, Eric Schmidt, chief executive of Google, said: “Google had an exceptional quarter with strong growth and profitability, from both Google properties and the network.”

He continued: “We are driving this growth through investments in our infrastructure and our people, product innovations that attract new users, and relationships with advertisers and partners around the world. The strength of our business model gives us the opportunity to invest in our business, allowing us to maintain and grow our market leadership.”

Google-owned sites generated revenues of $1.30 billion, or 58% of total revenues, representing a 97% increase over first quarter 2005 revenues of $657 million and an 18% increase over fourth quarter 2005 revenues of $1.10 billion.

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