Sunday, 17 April 2011

Google financials on the up - but targets missed

Google announced their Q1 financial results last week, showing an 18% year-on-year increase in profit to USD$2.3bn.

They missed the expectations of analysts despite revenues climbing by 27% (to USD$8.6bn) because of an increase in costs due to larger marketing spend, a 10% across the board payrise and a massive recruitment drive which saw them grow their employee numbers by 1,900 to 26,316 overall.

Google has committed to hiring at least 6,200 new employees this year. At least 1,000 of the new roles are scheduled to be in Europe.