Google announces fourth quarter results, topping $10 billion in revenue

Google announces fourth quarter results, topping $10 billion in revenue

Google has just announced its fourth quarter revenues, which exceeded $10 billion for the first time ever. Last quarter, the company reported revenues of $9.72 billion, and over the entire year, Google brought in a hefty $37.91 billion ($9.03 in Q2 and $8.58 in Q1).

Comparing the Q4 of 2011 with Q4 of 2010, there has been an dramatic 25% increase, which shows that Google appears to be heading in the right direction.

So. Much. Tech.

Some of the biggest names in tech are coming to TNW Conference in Amsterdam this May.

In the press release, Google CEO Larry Page elaborated on the company’s success:

“Google had a really strong quarter ending a great year. Full year revenue was up 29%, and our quarterly revenue blew past the $10 billion mark for the first time. I am super excited about the growth of Android, Gmail, and Google+, which now has 90 million users globally – well over double what I announced just three months ago.

By building a meaningful relationship with our users through Google+ we will create amazing experiences across our services. I’m very excited about what we can do in 2012 – there are tremendous opportunities to help users and grow our business.

It’s noteworthy that, while Google’s profits grew 6%, the company fell below Wall Street’s expectations. It reported a net income of $2.71 billion in Q4, or $8.22 per share, compared $2.54 billion, or $7.81 per share, for the same period in 2010. “Net revenue, excluding traffic acquisition costs, came in at $8.13 billion. Analysts were expecting earnings of $10.51 per share on net revenue of $8.43 billion, according to consensus estimates from FactSet Research (MarketWatch).”

The release also notes that Google now has 1,114 more Googlers than it did last year, and has $44.6 billion of “cash” ready in it’s back pocket.

More to follow. Please refresh for updates.

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