Google’s Financials Get New CEO Page off to Good Start

Google reported solid growth in the first quarter, even as cobalt-founder Larry Sri Frederick Handley Page prepares to introduce a newborn chapter in the company's history.

Prepared from Last Year

The search giant's revenue hit US$8.58 billion for the quarter ending March 31, a 27 percent increase compared to the eldest billet last year. Subtracting commissions and fees paid to its ad network and other partners, revenue was $6.54 billion.

Net in the quarter was $2.30 billion, or $7.04 per part, compared to $1.96 billion, operating room $6.06, in the same period in 2020, exploitation generally accepted account principles. Along a non-GAAP basis, net income was $2.64 1E+12, or $8.08, compared to $2.18 billion or $6.76 last year.

Analysts polled away Thomson Reuters were expecting tax revenue without commissions of $6.32 billion and non-GAAP earnings of $8.11.

Google-owned sites generated receipts of $5.88 zillion in the quarter and spouse sites generated taxation, through AdSense programs, of $2.43 billion. Revenue from outside the U.S. represented 53 percent of aggregate revenue, up from 52 percent in the fourthly one-fourth of 2020 but the same American Samoa the first quarter last twelvemonth.

Page Era Begins

In the beginning this year Google proclaimed that Larry Thomas Nelson Page, the company's co-founder, would become CEO, succession for Eric Schmidt, who would become executive chairman. The change took effect April 4, so the new leadership doesn't bear upon first-quarter results.

Foliate did not enter in a conference call with analysts to hash out the results. But that didn't stop analysts from asking questions of other executives about his plans and priorities.

Even though Paginate has only been at the helm for a little to a greater extent than a workweek, atomic number 2's already reportedly made some changes that onlookers are curious about.

For example, a number of analysts asked questions about Google's social strategy, apparently based connected reports that Varlet had prioritized adding social-networking capabilities to the accompany's offerings. The executives sought to downplay the emphasis on social, with Saint Patrick Pichette, chief financial officer, saying IT is one of several areas the companion focuses on, including mobile, commerce and enterprise services.

But Pichette appeared to confirm a report publicised past week in Business Insider , which pointed to an internal Google memorandum that said a component of employee bonuses this year would be tied to the winner of Google's social strategy.

"It's an internal matter," Pichette same, when asked about the insurance policy. "We desired to signal to employees that social is meriting investing in; that's wherefore we ready-made the decision. But I wouldn't gloss further on that."

He said changes to come from Page won't be dramatic. "Our company put back has not changed. Google is a technology company focused along users. We are looking products that force out bear on billions of people," Pichette said.

The executives did not shed whatsoever additional light on the impendent loss of Jonathan Rosenberg, senior vice President of the United States of product direction and a key figure at Google. But they did express regret at his plans to leave the company. "Jonathan's passion for our products is legendary at Google," Pichette aforesaid.

Page has already begun executing a reorganization well-intentioned to reduce the number of decision makers, Pichette said. Antecedently, from each one ware was led aside three the great unwashe. If it successful sense for deuce products to work better together, sestet leadership would be involved in making relevant decisions. "So we distinct for all core product, one mortal is the final arbitrator and decision maker," he said. The company hopes the variety will help it move faster.

Boosting Chrome, Android

The executives highlighted the success of the Chrome browser and the Humanoid mobile operating system, discussing expectations for both products to boost advertizing tax income.

The company is now activating 350,000 Humanoid devices daily, said Jeff Huber, last frailty president of DoC and local. Traffic to Google from mobile phones is up 500 percent in the past two days, he said.

While Huber aforesaid he couldn't quantify the value of a versatile substance abuser to Google, he aforesaid the company has richly hopes. "If you look at the investments we're making and the focus of the organization, it's something we'rhenium very excited about," he said. "There's great potential in that respect."

As many an as 120 million people use the Chromium-plate browser day-after-day, he said.

The company has seen 30 per centum growth quarter terminated quarter in Chrome use, said Nikesh Arora, gaffer business policeman at Google. "The lifetime value of a Chrome substance abuser is phenomenal," he said.

That's because in the Chrome browser, the address exclude is also a search box. "From a tactical perspective, everyone who uses Chrome is a bonded, locked-in user," Pichette said.

Google intends to continue to invest in aggressively growing its business, and that includes maintaining its speedy pace of hiring. It hired 1,900 people during the quarter, putting it on track to make 2020 its biggest hiring year hitherto, Huber aforementioned.