Compared to first quarter 2008, Google overall saw an increas of 6% with revenues of $5.51 billion. Again, search outperformed the rest of Google with an increase of 17% over Q1 2008.
Google reported revenues of $5.51 billion for the quarter ended March 31, 2009, an increase of 6% compared to the first quarter of 2008 and a decrease of 3% compared to the fourth quarter of 2008.
GOOG stock was up 1.47% at the time of this post.
Those overall quarterly losses at Google could have been worse had they not cut operating expenses. Overall operating expenses were 28% of revenues at $1.52 billion in Q1 2009 compared to 29% of revenues at $1.65 billion in Q4 2008. Payroll was reduced to $774 million in the first quarter of 2009 compared to $890 million the quarter prior.