Google beats profit expectations, shares rise

Highlights:

* Q1 non-GAAP earnings per share $5.16

* Q1 GAAP earnings per share $4.49

* Q1 revenue rose 6 percent to $5.51 billion

* Reuters Estimates Q1 earnings per share view $4.93, revenue view $5,533.64

million

* Q1 traffic acquisition costs $1.44 billion

* Sees sbc charges for grants to employees prior to April 1, 2009 to be

approximately $1.1 billion for 2009

* Says expect to continue to make significant capital expenditures

* Says in Q1 recognized benefit of $154 million to revenue through foreign

exchange risk management program

* Says on a worldwide basis, Google employed 20,164 full-time employees as of

March 31, 2009

* Says Omid Kordestani decided to hand over reins to Nikesh Arora

* Says Omid Kordestani to take on a new role as senior advisor, office of the

CEO and founders

(Bangalore Equities Newsroom)