Google’s streak of strong quarters continues: The company just posted big increases in quarterly profits and revenue. Net revenue at the search giant was up 19 percent to $5.06 billion, compared to $4.1 billion a year ago. Net income increased to $1.96 billion, up from $1.4 billion a year ago. Both figures were squarely in line with analysts’ expectations. In after-hours trading, however, the company’s stock is down slightly.
The performance comes as reports have said that the search market is recovering faster than anticipated. (Even during the midst of the recession, however, Google (NSDQ: GOOG) continued to grow). A report earlier this week, for instance, said that search-ad spending had jumped 20 percent during the first quarter.
— Capital expenditures: Capital expenditures were only $239 million during the quarter, up slightly from the company’s $221 million in capital expenditures last quarter. That’s much less than what analysts had expected — and surprising considering executives’ comments last quarter that the company would be ramping up spending significantly.
— Employment: Google’s workforce did, however, increase in size for the second quarter in a row. The company said it now has 20,621 employees, up 4 percent compared to the previous quarter.
— Clicks: The average cost-per-click was up 7 percent compared to a year ago. Paid clicks meanwhile were up 15 percent.
— Where the growth is coming from: Revenue at Google-owned sites increased 20 percent to $4.44 billion. Revenues generated via Google’s AdSense program, meanwhile, were up 24 percent to $2.04 billion.