Your ping output states that a ICMP packet was able to reach and be replied to in about 253 milliseconds.
64 bytes is the packet size, you can change the size. Changing the size is useful in trouble shooting some network issues.
That is the reverse IP DNS lookup address and ip address for the address you requested. It can be used to make sure your hitting the server you intend to hit, especially in clustered or DNS-RR setups.
is the number of the packet. You can use this to detect issues with bad routing. For example getting back packets 19, 17, 20, 22, 21, 12, 23 would mean each packet is taking a different route, and some of those routes are slower then others. Basically you want these to go in order.
ttl=241 time=253 ms
are timing numbers. ttl can usually be ignored. It has a lot to do with timing between hops. It's useful in some rare circumstances, but the higer the number the more the hops (though there is no direct correlation). The TTL should generally be the same. If it's not, then you have to look at other things to figure out why. "Time" is the time for the round trip. Lower is better. Anything under 4-5 seconds is perfectly fine (though slow). Most servers should be under 1 second, even on slow connections. 30 - 40 msecs is not rare these days, but again, a high number here means it takes a longer time for the packet to get to the other end and be responded to. Large numbers are fine. You have to measure time against what you think is normal for that server. Your time of 253 msecs is normal and fine.
On all, your ping results look typical for a larger site, though we would need to see a larger set of them to be really sure.