Google's revenue and earnings grew significantly in 2005's first fiscal quarter compared with the same period last year thanks to vibrant sales of online advertising, the Mountain View, California company said Thursday.
Revenue reached $1.256 billion for the quarter, which ended March 31, up 93 per cent on 2004's first quarter. Of that total, Google paid out $462 million to partner Web sites that carry ads sold by Google. These payments are called traffic acquisition costs, or TACs.
Meanwhile, Google generated net income of $369 million, or $1.29 per share, up from net income of $64 million, or $0.24 per share in 2004's first quarter.
Unlike most publicly traded companies, Google does not provide financial forecasts to analysts ahead of scheduled earnings announcements.