Christa Quarles, an analyst at Thomas Wiesel Partners, told CNBC’s “Squawk on the Street” that Google’s strong growth and recent acquisitions suggest that the search giant will continue to dominate the Internet.
“(The company’s growth is) broad based,” Quarles said Friday. “International continues to be the fastest growing component. It was up 72%. Domestically, (Google) was up 47%. Interestingly, Google’s owned-and-operated sites performed significantly better than its affiliate sites so they continue to take market share from their partners.”
Google’s first quarter net income rose to $1 billion, or $3.18 a diluted share, from $592 million, or $1.95 a share for the same period a year ago. Excluding one-time option expenses, profit was $3.68 a share compared with $2.29 a share a year ago. The consensus Wall Street estimate was $3.30 a share.