Buoyed by continued growth in search and by cost cuts, Google reported better-than-expected profitability for the first quarter of 2009.
Google's net income increased 8 percent annually to $1.42 billion for the quarter ended March 31, the company reported Thursday. Revenue increased 6 percent to $5.51 billion, but excluding commissions paid to advertisers (called traffic acquisition costs), revenue increased 10 percent to $4.07 billion.
On average, analysts surveyed by Thomson Reuters had expected revenue excluding commissions of $4.085 billion, a bit more than what Google reported. However, the company cleared the earnings forecast as it … Read more