Update: 11:30am local time
During a Monday morning press conference, doctors at the Grenoble hospital where the German driver is being treated said they were working "hour by hour" and that it was still too early to make a prognosis.
During the surgery, doctors worked to remove brain hemorrhaging and found severe lesions on Schumacher's brain, said Dr. Jean-Francois Payen.
Schumacher is still listed in critical condition and remains in an artificial coma while doctors treat him.
French radio station RMC has reported that Michael Schumacher suffered from a brain hemorrhage and is now in critical condition following a skiing accident on Sunday morning at at Méribel, in the French Alps.
Now under the care of Professor Gerard Saillant, a brain and spine injury expert, Michael Schumacher remains in critical condition after undergoing brain surgery.
The Grenoble Hospital released a statement Sunday night: "Michael Schumacher suffered a serious head trauma and arrived in a coma, making it necessary for him to undergo a neurosurgical procedure."
Preliminary reports stated Schumacher fell on his own, hitting his head on a rock.
Méribel director Christophe Gernignon-Lecomte told RMC radio: "He fell at 11:07am (CET) while skiing off-piste at Meribel. He was wearing a helmet and banged against a rock.
"Emergency services intervened quickly, at 11:15am. He was airlifted to hospital at Moûtiers (about 15km) away. He was shocked, a bit shaken up but conscious.
A spokesman for the first-aid responders in Méribel told CNN that Schumacher was indeed wearing a helmet, but said he had suffered "a relatively bad head injury."
He said Schumacher had been transferred from the Hospital of Moutiers to the trauma center at Grenoble Hospital but at the time said the injury was "not life-threatening" and that he had been conscious at the scene of the accident, according to CNN.
More information as it becomes available.