Nexus One brings Google sizable profits

Google on Thursday announced its financial details for the first quarter of the year, posting $5 billion in net revenue. The number marks a 19 percent increase over last year, while net profits showed similar strength. The company also boasted of its success in the mobile market, including its Nexus One smartphone and the Android Market.

During the earnings conference call, executives disclosed that the Android Market now consists of over 38,000 titles. The portal appears to be gaining momentum, as 8,000 of the titles were added just in the last month. Over half of the content is new to the market since the end of 2009.

Despite the accelerating pace of app additions on Google's mobile platform, the Android Market is still far off from its nearest competitor. Apple's App Store reached 100,000 titles in November of last year, with the most recent numbers indicating 185,000 apps by the beginning of April.

Although analyst reports suggested initial Nexus One sales were far below expectations, Google claims that the device has already become profitable. The company declined to provide details of a possible offering in retail stores. [via TechCrunch]

By Electronista Staff