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Larry Page Is New Google CEO; Google Reports $2.54B Net Profit For Q1-11

Starting April 4th 2011, Google co-Founder Larry Page will take over from Eric Schmidt as CEO of Google; Schmidt, who has been at the helm of the search engine giant for a decade will take on the role of the Executive Chairman, focusing on the deals, partnerships, customers and government outreach. Page will lead product development and technology strategy, while Google Co-founder Sergey Brin will focus on new products and strategic projects. Note that earlier last week, Google India announced the appointment of Rajan Anandan as Head for India, taking over from Shailesh Rao. During the last fiscal year (ending March 31st 2010), Google India reported revenues of Rs. 779.34 crore.

This announcement comes on the back of another strong quarter from the company, wherein it reported, in Schmidt’s words “extraordinary momentum of our newer businesses, such as display and mobile”, gross revenues of $8.44 billion (up 26% year on year) and net income of $2.54 billion (up 28.93% year on year). Operating income was 35% of revenues. Traffic acquisition cost declined marginally at 25% of advertising revenues.

Revenue Split

– Google owned sites vs network: Google-owned sites generated revenues of $5.67 billion, or 67% of total revenues, a 28% increase year on year from $4.42 billion.
– Network Revenues from partner sites (through AdSense programs) were $2.50 billion, or 30% of total revenues, in the second quarter of 2010, a 22% increase year on year from $2.04 billion.
– US vs International Revenues: Revenues from outside of the United States totaled $4.38 billion, representing 52% of total revenues in the second quarter of 2010, steady year on year and quarter on quarter. Revenues from the United Kingdom totaled $878million, representing 12% of revenues.

– Paid Clicks: Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of AdSense partners, increased approximately 18% up year on year, and 11% quarter on quarter.

– Cost-Per-Click: Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of AdSense partners, increased approximately 5% year on year and increased approximately 2% quarter on quarter.
– Headcount: On a worldwide basis, Google employed 24,400 full-time employees, up from 23,331 the previous quarter.

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