Google has done it again — they announced impressive earnings, beating forecasts and showing a 30% increase in profit from the previous first quarter results.

Google’s reported revenues of $5.19 billion for the quarter ending March 31, 2008 and a net income of $1.31 billion. Previous quarter revenues were $4.83 billion in Q4 and $3.66 billion in Q1 2007. Previous quarter income was $1.21 billion in Q4 2007. Google’s shares are currently up over 12% in after market conditions, now at $506.87.

Google has already increased the number of employees they have hired. As of March 31st, Google employed 19,156 full-time employees, up from 16,805 full-time employees on December 31, 2007.

Also, Google has around $12.1 billion in cash.

Here are some reports from around the web:

• Google’s Profit, Sales Surge Easing Ad-Growth Fears, Wall Street Journal
• Google Profit Climbs 30% on International Expansion, Bloomberg
• Google profit beats forecasts, shares jump, Reuters
• Google Profit Beats Wall St. Forecast, New York Times
• Earnings: Google Q1 Beats Revenue And Earnings Estimates; Shares Surge, paidContent

TechCrunch has live blogging of the conference call.

Related Topics: Google: Business Issues

About The Author: Barry Schwartz is Search Engine Land's News Editor and owns RustyBrick, a NY based web consulting firm. He also runs Search Engine Roundtable, a popular search blog on very advanced SEM topics. Barry's personal blog is named Cartoon Barry and he can be followed on Twitter here. For more background information on Barry, see his full bio over here. See more articles by Barry Schwartz