Google Q1 Revenue Up, Click Fraud Settlement Approved
Google Inc.’s first quarter 2006 revenue was $2.25 billion, up from first-quarter 2005 revenue of $1.26 billion. The Mountain View, CA-based online services firm’s net income jumped from $369.2 million to $592.3 million during the same period. The quarter ended March 31.
Google-owned sites generated revenue of $1.30 billion, up from first quarter 2005 revenues of $657 million. Google’s partner sites, through AdSense programs, pulled in $928 million, up from $584 million a year ago. Revenue from outside of the United States contributed 42% of the total, compared with 39% in first-quarter 2005. Foreign exchange rates had an immaterial impact on sequential international revenue growth.
In other Google news, an Arkansas judge approved a preliminary settlement in a class-action click fraud lawsuit brought last year by saerch advertisers against Google, Yahoo! and other search engines. The settlement will let Google offer a total of $60 million in ad credits to marketers who can show they’ve been victims of bogus ad clicks between 2002, when Google first started its pay-per-click ad program, and yesterday. The agreement includes up to $30 million to pay claimants’ legal fees.
The suit, first brought by Lane’s Collectibles and Gifts of Texarkana AR, will still proceed against Yahoo! Search Marketing. Other search engines in the suit syndicate paid-search ads from Google and are expected to be covered by the settlement.
