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Google Announces First Quarter 2006 Results
MOUNTAIN VIEW, Calif. – April 20, 2006 – Google Inc. (NASDAQ: GOOG)
today announced financial results for the quarter ended March 31, 2006.
“Google had an exceptional quarter with strong growth and
profitability, from both Google properties and the network,” said
Eric Schmidt, CEO of Google. “We are driving this growth through
investments in our infrastructure and our people, product innovations
that attract new users, and relationships with advertisers and partners
around the world. The strength of our business model gives us the
opportunity to invest in our business, allowing us to maintain and grow
our market leadership.”
Q1 Financial Summary
Google reported revenues of $2.25 billion for the quarter ended March
31, 2006, an increase of 79% compared to the first quarter of 2005 and
an increase of 17% compared to the fourth quarter of 2005. Google
reports its revenues, consistent with GAAP, on a gross basis without
deducting traffic acquisition costs, or TAC. In the first quarter of
2006, TAC totaled $723 million, or 32% of advertising revenues.