Dive summary:
- First-quarter profits for Google were up to $11.58 a share which well exceeded analyst predictions of $10.68 a share according to Bloomberg.
- This rise in profits can be attributed to Google's expansion beyond desktop-based search business into new ad-driven markets, including smartphones, Web services and video.
- The average price of a paid click dropped by 4% while the number of clicks advanced by 20%.
From the article:
"Google CEO Larry Page defended the company's investments in speculative ventures that could be big markets in the future, like Google Glass and self-driving cars. 'There are so many opportunities in the world to create technology to make people's lives better," he said on a call with investors. "We are still at only 1% of whats possible.'"