Google has announced its latest set of financial results, reporting revenues of $8.58 billion for Q1 this year, up 27% year-on-year. The company’s net income for the quarter was $2.3 billion, up from $1.96 billion in Q1 2009. However, the company’s operating expenses rose sharply from $1.84 billion to $2.84 billion in the last year – something analysts have quickly picked up on as cause for concern. CFO Patrick Pichette spoke briefly about YouTube: “We’ve seen YouTube develop into a platform, a win-win platform in fact, where partners can generate significant revenue from their content and users watch 2 billion views a day.” Meanwhile, colleague Susan Wojcicki said that “Revenue is doubling year-over-year, and we share that revenue with over 20,000 content partners.” Google also reported some strong stats for its Android smartphone OS. It’s now generated more than three billion app downloads, while 350,000 new Android devices are being ‘activated’ (i.e. sold) every day. It took just two months for Android downloads to go from two to three billion. Source: Seeking Alpha Source: TechCrunch

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