Google profit soars 69% to $3.66 billion
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The Mountain View Internet giant reported first-quarter profit increased 69 percent to $1 billion and revenue increased 63 percent to $3.66 billion, pleasantly surprising Wall Street analysts who had expected less exuberant results.
David Garrity of Dinosaur Research said $115 million worth of glee came from an unexpected boost that Google’s overseas business got from a weakened U.S. dollar. With that extra money, overseas advertising sales accounted for $1.71 billion, or 47 percent of total revenue. Without that boost, Garrity said, Google would have disappointed analysts, who had expected total revenue of $3.57 billion, according to the Reuters survey.
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