Google Q4 revenues up 17% to $6.67bn

Google-owned sites generated revenues of $4.42bn

Google has reported revenues of $6.67bn for the fourth quarter of 2009, an increase of 17% compared $5.7bn for the same period last year.

The Mountain View, California-based company has posted an operating income of $2.48bn, or 37% of revenues, compared to an operating income of $1.86bn, or 33% of revenues, for the same period a year ago.

For the quarter ended December, 31, 2009, the company reported a net income of $1.97bn, compared to $382m for the corresponding period last year. The earnings per share was $6.13 on 322 million diluted shares outstanding, compared to $1.21 in the fourth quarter of 2008 on 317 million diluted shares outstanding.

During the quarter, the company incurred a charge of $276m related to stock-based compensation (SBC), while the tax benefit related to SBC was $62m.

Google-owned sites generated revenues of $4.42bn, or 66% of total revenues, an increase of 16% compared to revenues of $3.81bn in the same period last year. Google partner sites revenues through AdSense rose 21% from fourth quarter 2008 network revenues of $1.69bn

Geographically, revenues from outside of the US totalled $3.52bn, representing 53% of total revenues, while revenues from the UK totalled $772m, representing 12% of total revenues for the fourth quarter of 2009. The company recognised a benefit of $8m to revenues through foreign exchange risk management program.

Eric Schmidt, CEO of Google, said: “Our performance in 2009 underscored the strength of our management team, the resilience of our business model and the pace of innovation within our product and engineering teams, which continued unabated throughout the downturn. As we enter 2010, we remain hugely optimistic about the internet and are continuing to invest heavily in technological innovation for the benefit not only of our users and customers, but also the wider web.”

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