Google today reported its first quarter 2013 results with the consolidated revenues of $13.97 billion for the quarter ended March 31, 2013, an increase of 31% compared to the first quarter of 2012. The company reported advertising revenues, comprising with GAAP, on a gross basis without deducting traffic acquisition costs (TAC) totaled $2.96 billion, or 25% of advertising revenues.
GAAP operating income in the first quarter of 2013 was $3.48 billion, or 25% of revenues. This compares to GAAP operating income of $3.39 billion, or 32% of revenues, in the first quarter of 2012. GAAP net income including net income from discontinued operations in the first quarter of 2013 was $3.35 billion, compared to $2.89 billion in the first quarter of 2012. Non-GAAP net income in the first quarter of 2013 was $3.90 billion, compared to $3.33 billion in the first quarter of 2012.
“We had a very strong start to 2013, with $14.0 billion in revenue, up 31% year-on-year,” said Larry Page, CEO of Google. “We are working hard and investing in our products that aim to improve billions of people’s lives all around the world.”
