Google Q4 earnings
Lawrence You takes over for Alma Whitten.
Google Inc. has released its fourth quarter and full 2007 year financial reports. Revenues were $4.83 billion for the fourth quarter, a 51% increase from 2006's fourth quarter and a 14% increase from the third quarter. For the year, total revenues were $16.59 billion, up from $10.6 billion in 2006.
GAAP net income for the fourth quarter was $1.21 billion compared to $1.07 billion in the third quarter. For all of 2007 the net income was $4.2 billion compared to $3.08 billion in 2006.
“In looking at 2007, we are very, very pleased with our year and also with the quarter which just ended,” said Dr. Eric Schmidt, Chairman of the Board and CEO of Google. “If you look at 2007, [there was] a strong financial performance across the board, reflecting a performance and a focus here at Google on both growth and profitability, with of course very strong revenue, operating income and earnings.”
Google-owned sites were responsible for 65% of total revenues or $3.12 billion. This represents a 58% increase over the fourth quarter of 2006. Google's partner sites generated $1.64 billion in revenues or 34%. This is 37% over network revenues of the fourth quarter of 2006.
Schmidt said, “As you can see, not only did we have a very good 2007, but we are quite optimistic about '08.”