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July 9, 2008 7:44:40 AM CDT

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Rosy Q1 for Google

Posted Apr 17, 08 5:45 PM CDT in Business,  Technology    Editor's Choice

(Newser) – Google reported a 30% increase in first-quarter profits today, bettering analysts’ predictions and sending share prices up 17%, Bloomberg reports. Forecasters had assumed that growth in domestic advertising clicks would slow, but Google said it “remains healthy;” a 55% increase in international ad sales gave the search giant the bump it needed to exceed expectations.

The dismal outlook on Wall Street was in part due to cuts in advertising budgets, and to unencouraging numbers released by Google in January. Ad clicks rose, but at nowhere near the rate of the same time last year. The rising value of international currency was beneficial but unexpected; Google admitted that without the boost, revenues would have been around $200 million less.

Source Bloomberg

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The logo of Google.   (AP Photo/Keystone, Walter Bier, file)
Google headquarters in Mountain View, Calif.   (AP Photo/Paul Sakuma)
Graphic compares unique Internet traffic to Google, Microsoft and Yahoo since 2002; 1c x 3 5/8 inches; 46.5 mm x 92.1 mm   (AP Photo)
Chart shows Google's stock price since August 2004; 1c x 3 inches; 46.5 mm x 76.2 mm   (AP Photo)
Google's profits jumped 35% in the first quarter, mainly on the strength of overseas sales.   (AP Photo/Paul Sakuma)
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