Google first-quarter revenue expected to rise 25 percent to $6.33 billion

PanARMENIAN.Net - Larry Page is expected to make his first public remarks since returning to his original job as Google Inc.'s CEO when the Internet search leader releases its first-quarter earnings Thursday, April 14.

The results, due out after the stock market closes, could be upstaged by Page's commentary and demeanor in management's conference call with analysts.

Google delivered a stellar fourth-quarter performance in late January, but that showing quickly became an afterthought because the numbers were released in conjunction with the company's surprising announcement that Page would replace Eric Schmidt as CEO.

The change of command was completed last week. Schmidt is now Google's executive chairman after a decade as CEO. Although Page is one of the co-founders who invented the search engine that turned Google into the Internet's most profitable company, there is still a fair amount of anxiety about how he intends to run the company.

Page, 38, is a man of few words, but he has always made it a point to emphasize Google should focus on investing in opportunities that could take years to pay off, even if the spending undercuts Google's earnings for a few quarters.

That philosophy has caused some investors and analysts to wonder if the company will exceed Wall Street's quarterly earnings targets as consistently as it did under Schmidt for the past 6 1/2 years. The apprehension has been reflected in Google's stock price, which has fallen by 8 percent since Page's return as CEO was announced. The shares closed Wednesday at $576.28, down from $626.77 when Google disclosed Schmidt would defer to Page.

Schmidt's final quarter as Google's CEO is expected to be a strong one. Analysts surveyed by FactSet expect Google to earn $8.11 per share, excluding expenses for employee stock compensation That would a 20 percent increase from the comparable figure a year. After subtracting commission paid to Google's advertising partners, first-quarter revenue is expected to rise 25 percent to $6.33 billion, AP reported.