Google Recorded Quarterly Profit

Sunday 24 April 2005 @ 10:46 pm

Search engine giant, Google Inc., recorded profit of nearly six times higher than a year earlier last Thursday, April 21, 2005. This news sent shares of Google more than 5 percent higher in after-hours trade to around $215 that day.

Google had net income of $369.2 million, or $1.29 a share, in the first quarter, compared with $64.0 million, or 24 cents a share, a year earlier. Results from the most recent quarter included a $49 million charge related to stock-based compensation.

Total revenue was $1.26 billion, up from $651.6 million a year earlier. Virtually all of the company’s revenue comes from ads that are triggered when Web users type certain key words into Google’s search engine.

[Source]

Can anyone borrow me some money so that I can afford highly priced Google share please? :p

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