Google Beats In Q1 2012: Revenue Up 24 Percent To $10.65B, $2.9B In Net Income

Google just released earnings this afternoon, reporting revenues of $10.65 billion for the first quarter which ended March 31, 2012, an increase of 24% compared to the first quarter of 2011 ($8.58 billion). But minus traffic acquisition costs, Google pulled in $8.14 billion in revenue. Non-GAAP EPS in the first quarter of 2012 was $10.08. GAAP Net income came in at $2.9 billion, compared to $1.80 billion in the first quarter of 2011. The company was expected to report a profit of $9.64 a share, on revenue of $8.1 billion (minus traffic acquisition costs). ?Google had another great quarter with revenues up 24% year on year,? said Larry Page, CEO of Google. ?We also saw tremendous momentum from the big bets we?ve made in products like Android, Chrome and YouTube. We are still at the very early stages of what technology can do to improve people's lives and we have enormous opportunities ahead. It is a very exciting time to be at Google.?

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