[NewsPoster]

Google today announced financial results for the quarter ended March 31. The company reported consolidated revenues of $13.97 billion for the quarter, an increase of 31 percent compared to the first quarter of 2012. Traffic acquisition costs totaled $2.96 billion, or 25 percent of advertising revenues. Net income climbed to $3.35 billion compared to $2.89 billion in the year-ago quarter. The results were a mixed bag for Wall Street, with the company beating expectations on profits, but falling short on revenue predictions.

Google-owned sites generated revenues of $8.64 billion, or 67 percent of total Google revenues, in the first quarter of 2013. This represents an 18 percent increase over first quarter 2012 Google sites revenues of $7.31 billion. Google's partner sites generated revenues of $3.26 billion in the first quarter. This represents a 12 percent increase in the prior year's period, where Google network revenues were $2.91 billion.

Google revenues from outside of the United States came in at $7.1 billion, representing 55 percent of total Google revenues in the first quarter of 2013, compared to 54 percent in the fourth quarter of 2012 and in the first quarter of 2012.

Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of network members, increased approximately 20 percent over the first quarter of 2012 and increased approximately three percent over the fourth quarter of 2012. Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of network members, decreased approximately four percent over the first quarter of 2012 and decreased approximately four percent since the last quarter.