Google Reveals Q1 2010 Financials

With Q1 2010 ending, many tech firms are revealing their numbers for the quarter. Analysts are looking to the numbers posted by computer makers and technology firms as an indication that tech spending and the economy in general are starting to return to normal levels.

Intel announced this week that it has its best first quarter ever in Q1 2010. Google has now offered its numbers for the quarter and the search giant has again beat Wall Street predictions. However, despite beating predictions and posting growth in profits, shares of Google stock lost 5% as jaded investors have become accustomed to Google beating predictions by a wider margin.

“Google performed very well in the first quarter, with 23% year over year revenue growth driven by strength across all major verticals and geographies,” said Patrick Pichette, CFO of Google. “Going forward, we remain committed to heavy investment in innovation -- both to spur future growth in our core and emerging businesses as well as to help build the future of the open web.”