Google revenues up 3% on quarter, 18% on year, earnings down 70%

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Google revenues up 3% on quarter, 18% on year, earnings down 70%

Mountain View (CA) – This evening, Google announced its Q4’2008 fiscal results. Exceeding analyst’s expectations, Google posted $5.70 billion in revenue, which is up 3% compared to Q3 and 18% compared to a year ago quarter. Net income was $382 million, down considerably from $1.29 billion in Q3, and down even further from $1.62 billion a year ago.

Google’s site revenue was $3.81 billion, 67% of total revenue. It’s up 4% from Q3 and 18% from Q4’2007. Network revenues through AdSense were $1.69 billion, or 30% of total revenues, up 1% over Q3 and 4% over Q4’2007.

CEO Eric Schmidt said in the press release:

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

Google’s international revenues were $2.86 billion, 50% of total revenues. Google ended the year with 20,222 full time employees, up from 20,123 full-time employees as of September 30, 2008.

Google also announced today that it plans to offer its employees a voluntary, “one-for-one stock option exchange” – which is intended to create additional incentive for employees to remain at Google.

See Google’s press release.