Earnings: GOOG CEO: “Exceptional” Q1; Profit Up 60 Percent

Google revenues hit $2.25 billion for 1Q06, up nearly 79 percent from the same quarter last year but only up 17 percent sequentially from 4Q05. Net income offers a different picture — $697 million in the first quarter compared to $469 million in the fourth quarter. Diluted earnings were $592 million, or $1.95 per share, compared to $369 million, or $1.29 in the same quarter last year, and $372 million, or $1.22 per share, in the fourth quarter.
— Traffic acquisition costs (TAC) totaled $723 million, or 32 percent of advertising revenues.
— Google-owned sites accounted for $1.3 billion in revenues, 58 percent of the total.
— Partner sites using AdSense generated $928 million, 41 percent of the total.
— International accounts for 42 percent of total revs.
Earnings release | Webcast (archive available at &:30 p.m. eastern.)

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