Posted April 15, 2008 10:00 am by with 14 comments

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Update: Google’s Q1 2008 numbers our released, and it’s grown income by 31%!!! More here.

Mark your calendars for this Thursday. That’s when Google will reveal its Q1 numbers for 2008. This is normally a big day for investors anyway, but this time the stakes are higher than normal.

After missing the targets many analysts had set for Q4 2007, and back to back reports of reduced search query and paid click growth, Wall Street is anxious to see if Google’s still the “sure thing” it has been for the past couple of years.

The company’s first quarter announcement will be as important as federal rate cut or economic forecast–perhaps even becoming a sign of the severity of any recession. Hit (or exceed) projections and expect Google shares to make back some of what it’s given up over the past couple of months. Fail to reach expectations and you can expect Google’s stock to falter–if not tank–and you can pretty much assume Google won’t be making any big acquisitions any time soon. Without the $700+ stock price, any acquisition by Google would be a lot more costly.

So, any signs if Google will hit or miss on Thursday? comScore offers a glimmer of hope

Market research group Comscore Inc. said late Monday that Google’s volume of search queries in March grew 30% year-over-year, reversing a deceleration from January to February. The research group said the number of times people searched on Google increased 31% in the first quarter, compared with the year ago period.

Now, don’t pop the champagne just yet. That growth is for the number of search queries on Google, not “paid clicks“–which is a more important measurement–but, there’s at least something to suggest Google will not disappoint on Thursday.