Google’s net profits for the first quarter of 2007 were $1 billion (£500 million), a 69% increase on the same period last year.
Its revenue was up 63% to $3.6 billion (£1.8 billion) for Q1, including traffic acquisition costs of $1.1 billion, or 31% of advertising revenues.
Revenues from the UK totaled $578 million, representing 16% of revenue in the first quarter of 2007, compared to 15% in the first quarter of 2006 and 15% in the fourth quarter of 2006.
Google-owned sites generated revenues of $2.28 billion, or 62% of total revenues, whilst Google’s partner sites generated revenues through its AdSense program of $1.35 billion.
Google recently bought Doubleclick, an ad-serving company, for £3.1 billion (see Google Acquires Doubleclick For £3.1 Billion) and also signed an ad agreement with Clear Channel Radio in the US (see Google Signs US Radio Ad Agreement With Clear Channel).
Eric Schmidt, Google CEO, said of the Q1 results: “”The global growth of our core search and ads business and our focus on building our partnerships drove our strong results in the quarter.
“We continued to expand our worldwide footprint, adding important new partners and growing our platform to increase our ability to deliver targeted and measurable ads. The ongoing expansion of our network allows us to improve the user experience through new opportunities and programs.”
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