News: Google Records $10.65 Billion in Revenue During Q1; Google+ Still Growing Fast
As you would expect, the tech giant is reporting great numbers. The company reports $10.65 billion in revenue, up 24% from the same quarter in 2011. Net income was $2.89 billion. Google just missed Wall Street’s estimates by a hair. Google has also noted that they’ve gotten $7.31 billion in Site revenues, this representing 69% of their total revenue.
Google’s total cash on hand is $49.3 billion. That number represents cash, cash equivalents, and short-term marketable securities.
Google CEO Larry Paige called Google+ the “social spine” of the company. He also reiterated the fact that the social network has 170 million users.
He also noted that the network “is growing quickly” and that the company is seeing “impressive engagement” and “fast growth.”