Google reports successful Q4

Share this article:

Google reported an 18% increase in fourth quarter earnings over the same period last year.

Google released its fourth quarter and fiscal year 2008 earnings this afternoon during a conference call with investors. The leader in search market share reported revenues of $5.7 billion for the quarter, which ended December 31, compared to $4.83 billion for the same period last year.

“Google performed well in the fourth quarter, despite an increasingly difficult economic environment,” said Eric Schmidt, CEO of Google, during the conference call. “Search query growth was strong, revenues were up in most verticals, and we successfully contained costs.”

Google-owned sites generated revenues of $3.81 billion, or 67% of total revenue. This is a 22% increase over the fourth quarter of 2007, when Google-owned sites generated $3.12 billion.

Operating expenses, other than cost of revenue, were $1.65 billion in the fourth quarter of 2008, or 29% of revenue, compared to $1.72 billion or 31% of revenue in the third quarter of 2008.

GAAP net income for the fourth quarter of 2008 was $382 million as compared to $1.29 billion in the third quarter of 2008. Non-GAAP net income was $1.62 billion in the fourth quarter of 2008, compared to $1.56 billion in the third quarter of 2008.

As of December 31, the company reported cash, cash equivalents and marketable securities of $15.85 billion. Google employed 20,222 full-time employees as of December 31 and added 99 employees during the fourth quarter.

Schmidt also commented on Google's outlook on the worldwide recession.

“It's unclear how long the global downturn will last, but our focus remains on the long term, and we'll continue to invest in Google's core search and ads business as well as in strategic growth areas such as display, mobile, and enterprise,” he said.

Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

How Amazon Ads Might Change the Game

How Amazon Ads Might Change the Game

Will the Great Recommender introduce "pretargeting" to the menu? Is it destined to become the King of Conversion? Or will its ad business simply settle in between Google's and Facebook's?

Less Than Half of Marketers Say the C-Suite "Gets" Digital

Less Than Half of Marketers Say the C-Suite ...

The long road to digital marketing leadership starts with organizational alignment, a study finds.

Candidates Hook Into Twitter

Candidates Hook Into Twitter

A digital agency for politicians puts the power of presidential electioneering into the hands of Congressional campaigns.