GOOG 1Q08 Earnings Recap

GOOGLE 1Q08 Earnings Report Stats:

Beat ?: YES ! (reported $4.12/share vs. analysts' consensus of $3.96/share)

Profit --> Up 30% to $1.31 Billion (from $1.0 Billion)
Sales --> Up 42% to $5.19 Billion (from $3.66 Billion)

Other Highlights + Guidance:
*Google-owned sites generated $3.4 Billion or 66% of total revenue for the qtr...a 49% yoy increase
*Google's partner sites (AdSense Network) generated $1.69 Billion or 33% of total revenue for the qtr...a 25% yoy increase

*International Sales accounted for 51% of total revenues or $2.65 Billion (compared to 47% last year)
*Keeping currency rates constant year over year, international sales would have been lower by about 8% or $202 million
*2008 year over year International Sales Gowth = 54%
*Constant Currency Adjusted 2008 year over year International Sales Growth = 42%

*Paid Clicks (the frequency at which users click on Google-site advertising) grew 20% yoy...however the Paid Clicks rate is decelerating as Paid Clicks in 1Q07 grew 52% over 1Q06

*Google's 1Q08 Effective Tax Rate was 24% (down from 25% in 1Q07)

*Google's CASH position as of 3/31/08 was $12.1 Billion !
*As of 3/31/08, Google's total employee count was 19.2K employees

*Google purchased Doubleclick Inc. in March 2008 for $3.1 Billion...since then Google has laid off about 10% of DoubleClick's 1,200 employees

"It's clear to us we're well positioned for 2008 and beyond...We're well positioned should economics change. We'll continue to do well because our advertising is so targeted." - Google CEO, Eric Schmidt

Full Disclosure: I currently own shares of GOOG.