Google released their first quarter 2010 earnings report last night and they reported another great quarter. Revenue was up 23% and net income was up even more, at 37%. These numbers beat analysts expectations, but yet in the pre-market, GOOG stock is down $27 or almost 5%.

The pretty amazing figure is that Google has more fluid money than many countries, with $26.5 billion sitting in cash, cash equivalents, and short-term marketable securities. In any event, here are some key metrics, including some interesting ones from a SEM’s perspective:

Google-owned sites generated revenues of $4.44 billion, or 66% of total revenues Network revenue or AdSense programs, earned of $2.04 billion, or 30% of total revenues Paid clicks increased approximately 15% over the first quarter of 2009 and increased approximately 5% over the fourth quarter of 2009 Cost per click prices also increased approximately 7% over the first quarter of 2009 and decreased approximately 4% over the fourth quarter of 2009Google has $26.5 billion cash on hand Google employed 20,621 full-time employees as of March 31, 2010, up from 19,835 full-time employees as of December 31, 2009

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