Google Q1 revenues grow 23-per cent; net up 38 per cent

Global search engine giant Google reported impressive financial results with growths in revenues and profit for the first quarter ended 31 March 2010, as the world economy lumbers out of the worst recession in more than six decades.

The company came out with its first quarter revenue of $6.77 billion, up 23 per cent compared to the $5.51 billion for the same quarter last year.

Commenting on the results, Google's chief financial officer Patrick Pichette said: ''Google performed very well in the first quarter, with 23 per cent year-over-year revenue growth driven by strength across all major verticals and geographies.''

''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,'' Pichette added.

Advertising revenues from Google-owned sites accounted for 66-per cent of total revenues and partner sites generated 30-per cent, while other revenues accounted for the remaining 4 per cent.

Share of international revenues, that is from outside the US is more or less stable at 53 per cent.