Google reported a very profitable first quarter, and that was without any material contribution yet from recently acquired DoubleClick.

Google’s total first-quarter revenue was $5.19 billion, up 42 percent compared with Q1 2007 and up 7 percent sequentially. Net income was $1.31 billion, compared with $1.21 billion in the fourth quarter of 2007.

"Our ongoing innovation in search, ads and apps helped drive healthy growth globally across our product lines, yielding another strong quarter for Google," said Eric Schmidt, CEO of Google. "As we integrate DoubleClick into our advertising platform, we see exciting new ways to improve the user experience and increase value for our advertisers and partners. Also, while exercising operational discipline, we continue to explore opportunities that add value to users everywhere and to Google in the long term."

Schmidt was coy about Yahoo’s test of Google’s AdSense service, saying only: “It's nice to be working with Yahoo. We like them very much.”

Schmidt told investors on a conference call that the company is watching the economy very closely and has not felt any ill affect from the slowing trend in international markets.

“On the macro side, we've looked at this really carefully, and we do not see an impact as of this time,” he said.

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• Broadband Briefs for 4/18/08