This is the first quarterly earnings that Larry Page reported as the newly appointed Google Inc. (NASDAQ:GOOG) CEO after Eric Schmidt stepped down. Google reported $8.58 billion in gross revenue for the first quarter 2011. This is a 27% increase over the first quarter of last year. However the numbers are slightly less than what analysts were expecting.

Google Inc. (NASDAQ:GOOG) announced in a filing with the U.S. SEC that seven senior executives are getting a 30% raise for 2011. These seven execs are Patrick Pichette, Nikesh Arora, Jonathan Rosenberg, and Alan Eustace. Now alll of their base salaries are $650,000.