Google Suprises With 30% Increase In Q1

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People had been selling off Google in the past few weeks, on speculation that the company’s ad program was not performing as well as last year. These people must be surprised today to learn that Google ended up 30% over last year’s earnings.

Google leader Eric Schmidt cooed about the company’s prowess. “It’s clear we are well positioned for 2008 and beyond, regardless of the business environment we are surrounded by,” said Schmidt.

Revenue was $5.19 billion, up 42 percent from 2007’s $3.66 billion. Earnings were $1.31 billion, or $4.12 per share, for the first three months of 2008, compared with $1 billion, or $3.18 per share, in the first quarter of 2007.

Google’s shares immediately rallied almost 18% on the news.

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