Google has dished out the numbers regarding its performance during the first quarter of the current year. The company has defied most of the estimates provided by Wall Street and has registered a profit rise of 16%.
Google’s revenues during the same period clocked at $11.01 billion. That is a significant year-over-year growth since the company’s revenue was $8.14 at the same time last year. Of this revenue, the company bagged a cool $3.35 billion in profits compared to the $2.89 billion profit during the first quarter of 2012.
The rise in profits indicates a growth of $11.58 per share. The fact that Google has performed far better than Wall Street’s estimates is not surprising at all. The company’s Android platform continues to grow at a rapid pace which, in turn, lets Google dish out its ads and offer its services to an ever-growing audience.
Not only that, the market is generally hopeful with the future of company’s growth. Google is currently working on the self-driving cars while the Explorer editions of Google Glass are in the process of being shipped. These products mean that Google has a lot to offer in the coming days, which may potentially translate into good growing opportunities for the company.
Speaking on the occasion of announcing the quarterly numbers, Google’s CEO Larry Page stated, “There are so many opportunities in the world to create technology to make people’s lives better. We are still at only 1% of whats possible.”
Courtesy: WSJ
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