Today, Google announced their financial results for the first quarter of 2011, reporting an $8.58 billion revenue. The quarter, which ended on March 31st, is being called a "great quarter with [a] 27% year-over-year revenue growth" by Google CFO Patrick Pichette.

“These results demonstrate the value of search and search ads to our users and customers, as well as the extraordinary potential of areas like display and mobile. It's clear that our past investments have been crucial to our success today--which is why we continue to invest for the long term.”

Also, Google had quite a bit of success in international countries, specifically the United Kingdom giving Google $969 million for their revenue.

  • GAAP operating income in the first quarter of 2011 was $2.80 billion, or 33% of revenues.  This compares to GAAP operating income of $2.49 billion, or 37% of revenues, in the first quarter of 2010.  Non-GAAP operating income in the first quarter of 2011 was $3.23 billion, or 38% of revenues. This compares to non-GAAP operating income of $2.78 billion, or 41% of revenues, in the first quarter of 2010.
  • GAAP net income in the first quarter of 2011 was $2.30 billion, compared to $1.96 billion in the first quarter of 2010.  Non-GAAP net income in the first quarter of 2011 was $2.64 billion, compared to $2.18 billion in the first quarter of 2010.
  • GAAP EPS in the first quarter of 2011 was $7.04 on 326 million diluted shares outstanding, compared to $6.06 in the first quarter of 2010 on 323 million diluted shares outstanding.  Non-GAAP EPS in the first quarter of 2011 was $8.08, compared to $6.76 in the first quarter of 2010.
  • Non-GAAP operating income and non-GAAP operating margin exclude the expenses related to stock-based compensation (SBC).  Non-GAAP net income and non-GAAP EPS exclude the expenses related to SBC and the related tax benefits.  In the first quarter of 2011, the charge related to SBC was $432 million, compared to $291 million in the first quarter of 2010. The tax benefit related to SBC was $92 million in the first quarter of 2011 and $65 million in the first quarter of 2010.

Another great quarter for Google - surprise, surprise!