Google has reported Q1 revenues of US$17.3bn, up 12pc on the same quarter last year. The internet giant cited momentum in its mobile advertising business as the driving force behind its performance.
Hedging its bets in a foreign exchange risk-management programme, if foreign exchange rates had remained constant Google’s revenues in the first quarter would have been US$795m higher.
The internet giant reported a profit of US$3.5bn, up from US$3.4bn last year.
Google websites generated revenues of US$11.9bn in the first quarter, a 14pc jump from last year.
Google momentum in mobile
Total advertising revenues increased by 11pc to US$15.5bn.
Google Network Members’ websites’ revenues were up 1pc to US$3.5bn, while revenues from other sources came in at US$1.75bn, an increase of 23pc.
“Google’s first quarter revenue was $17.3 billion, up 12pc year-on-year. Excluding the net impact of foreign currency headwinds, revenue grew a healthy 17pc year-on-year,” said Patrick Pichette, CFO of Google.
“We continue to see great momentum in our mobile advertising business and opportunities with brand advertisers.”
Google image via Shutterstock
