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Google has today reported their financial results from the first quarter of 2012. Early signs are positive with Google earning $10.65 billion in revenue, up 24% from the same quarter in 2011. Net income was a respectable $2.89 billion. Google only missed Wall Street’s estimates by a hair so it’s unlikely they’ll hurt much in the market.
They also have close to $50 billion in cash on hand, meaning they have a lot of dough to play around with in the acquisition market. The earnings call is ongoing and we’ll be updating this post with any juicy tidbits to come from it. Developing…
They earned enough net income to buy 2.89 instagrams!
Last year Google averaged buying 1 company a week for the entire year. Who they buy next is anyone’s guess.
buy pinterest!
Google want to sell Moto. Shame google!
Put $10 Billion into R&D and buy a few small companies that can improve their ecosystem.