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.

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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