Google Credits Online Ad Surge for Big Earnings

Competitors come and go, but Google remains atop the search engine heap in market share and traffic. The search engine’s popularity also helps its bottom line.

As Datamation reports, Google’s also a powerhouse when it comes to online advertising. In reporting first quarter earnings Google detailed how well it did in online advertising and what technologies it’s investing in going forward.

Buoyed by a resurgence in advertising spending, Google (NASDAQ: GOOG) today reported earnings for the first quarter that handily beat Wall Street estimates.

The search giant posted first-quarter sales of $5.06 billion, topping analysts’ estimate of $4.95 billion, according to polling by Thomson Reuters. Overall revenues checked in at $6.78 billion, a 23 percent surge over the same quarter last year.

Those figures translating into a healthy profit for the company, which reported non-GAAP earnings of $6.76 per share, topping analysts’ forecast of $6.58, and surging 24 percent ahead of the year-earlier mark of $5.16.

“Google performed very well in the first quarter, with 23 percent year-over-year revenue growth driven by strength across all major verticals and geographies,” CFO Patrick Pichette said in a statement. “Going forward, we remain committed to heavy investment in innovation — both to spur future growth in our core and emerging businesses as well as to help build the future of the open Web.”

Read the full story at Datamation:

Strong Google Earnings Point to Online Ad Revival

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