Google Inc. (NASDAQ: GOOG) on Thursday reported that its first quarter net income rose to $2.30 billion or $7.04 per share, from $1.96 billion or $6.06 per share in the fourth quarter last year. On an adjusted basis, the company earned $8.08 a share in the second quarter. Revenue rose 27% to $8.58 billion from $6.78 billion. Analysts, on average, expected the company to report earnings of $8.13 per share on revenue of $6.44 billion. Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of Adsense partners, increased approximately 18% over the first quarter of 2010 and increased approximately 4% over the fourth quarter of 2010. Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of its AdSense partners, increased approximately 8% over the first quarter of 2010 and decreased approximately 1% over the fourth quarter of 2010. Operating expenses, other than cost of revenues, were $2.84 billion in the first quarter of 2011, or 33% of revenues, compared to $1.84 billion in the first quarter of 2010, or 27% of revenues.
Google shares slumped more than 5% in after-hours trading.
Google shares slumped more than 5% in after-hours trading.
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