Google betters market expectations with 60% growth in revenues

Google betters market expectations with 60% growth in revenues

Search engine giants Google has once again impressed their investors with a better than expected performance. The company said that its first-quarter profit rose 60 percent. Google is continuing to dominate the search engine and online advertisement market over MSN and Yahoo!

Google’s net income rose to $592.3 million or $1.95 a share. Revenues were up 79% to touch an awesome $2.25 billion. They are expanding their base impressively in the European markets and command a search engine market share of almost 50% in their home market of USA.

This growth comes as a relief to the investors who were surprised at the lack of growth in revenues and profits in the last quarter. Google posted profits of $2.29 a share beating the market expectations of $1.97.

This awesome revenue report helped the company gain in the stock market as its shares jumped $33.31 to $448.31 in extended trading after the report.