2005 Financial Tables
Full year financial tables with quarterly data.
Income Statement
(Figures in thousands, except per share amounts and EPS)
| Full Year | 2005 | ||||||
|---|---|---|---|---|---|---|---|
Revenues |
2003 | 2004 | 2005 | Q1 | Q2 | Q3 | Q4 |
| Revenues | 1,465,934 | 3,189,223 | 6,138,560 | 1,256,516 | 1,384,495 | 1,578,456 | 1,919,093 |
| Y/Y Growth Rate | 234% | 118% | 92% | 93% | 98% | 96% | 86% |
| Q/Q Growth Rate | NA | NA | NA | 22% | 10% | 14% | 22% |
| Google web sites | 792,063 | 1,589,032 | 3,377,061 | 656,997 | 737,172 | 884,679 | 1,098,213 |
| Y/Y Growth Rate | 158% | 101% | 113% | 116% | 115% | 115% | 107% |
| Q/Q Growth Rate | NA | NA | NA | 24% | 12% | 20% | 24% |
| Google Network web sites | 628,600 | 1,554,256 | 2,687,942 | 584,115 | 630,242 | 675,012 | 798,573 |
| Y/Y Growth Rate | 505% | 147% | 73% | 75% | 82% | 76% | 63% |
| Q/Q Growth Rate | NA | NA | NA | 19% | 8% | 7% | 18% |
| Total Advertising Revenues | 1,420,663 | 3,143,288 | 6,065,003 | 1,241,112 | 1,367,414 | 1,559,691 | 1,896,786 |
| Y/Y Growth Rate | 246% | 121% | 93% | 95% | 98% | 96% | 86% |
| Q/Q Growth Rate | NA | NA | NA | 22% | 10% | 14% | 22% |
| Licensing & other revenues | 45,271 | 45,935 | 73,558 | 15,405 | 17,081 | 18,765 | 22,307 |
| Y/Y Growth Rate | 58% | 1% | 60% | 7% | 62% | 89% | 101% |
| Q/Q Growth Rate | NA | NA | NA | 39% | 11% | 10% | 19% |
| As % of Revenues | |||||||
| Google web sites | 54% | 50% | 55% | 52% | 53% | 56% | 57% |
| Google Network web sites | 43% | 49% | 44% | 47% | 46% | 43% | 42% |
| Licensing & other revenue | 3% | 1% | 1% | 1% | 1% | 1% | 1% |
| Full Year | 2005 | ||||||
|---|---|---|---|---|---|---|---|
Cost |
2003 | 2004 | 2005 | Q1 | Q2 | Q3 | Q4 |
| Cost of Revenues* | 634,411 | 1,468,967 | 2,577,088 | 546,781 | 598,119 | 655,154 | 777,035 |
| As % of Revenues | 43% | 46% | 42% | 44% | 43% | 42% | 40% |
| Traffic Acquisition Cost | 526,533 | 1,228,677 | 2,114,942 | 461,807 | 494,320 | 529,874 | 628,941 |
| As % of Revenues | 36% | 39% | 34% | 37% | 36% | 34% | 33% |
| Other Cost of Revenues* | 107,878 | 240,290 | 462,146 | 84,974 | 103,799 | 125,280 | 148,094 |
| As % of Revenues | 7% | 8% | 8% | 7% | 7% | 7% | 8% |
| Research & Development* | 229,605 | 395,164 | 599,510 | 108,711 | 123,134 | 177,793 | 189,871 |
| As % of Revenues | 16% | 12% | 10% | 9% | 9% | 11% | 10% |
| Sales & Marketing* | 164,935 | 295,749 | 468,152 | 89,488 | 104,546 | 111,487 | 162,632 |
| As % of Revenues | 11% | 9% | 8% | 7% | 8% | 7% | 8% |
| General & Administrative* | 94,519 | 188,151 | 386,532 | 68,766 | 82,998 | 104,851 | 129,915 |
| As % of Revenues | 6% | 13% | 6% | 5% | 6% | 7% | 7% |
| Settlement of dispute with Yahoo! | NA | 201,000 | NA | NA | NA | NA | NA |
| As % of Revenues | NA | 6% | NA | NA | NA | NA | NA |
| Contribution to Google Foundation | NA | NA | 90,000 | NA | NA | NA | 90,000 |
| As % of Revenues | NA | NA | 1% | NA | NA | NA | 5% |
| Total Costs & Expenses* | 1,123,470 | 2,549,031 | 4,121,282 | 813,746 | 908,797 | 1,049,285 | 1,349,453 |
| Y/Y Growth Rate | 344% | 127% | 62% | 64% | 72% | 32% | 85% |
| Q/Q Growth Rate | NA | NA | NA | 12% | 12% | 15% | 29% |
| Full Year | 2005 | ||||||
|---|---|---|---|---|---|---|---|
Profitability |
2003 | 2004 | 2005 | Q1 | Q2 | Q3 | Q4 |
| Income from operations | 342,464 | 640,192 | 2,017,278 | 442,770 | 475,698 | 529,171 | 569,640 |
| As % of Revenues | 23% | 20% | 33% | 35% | 34% | 34% | 30% |
| Net Income | 105,648 | 399,119 | 1,465,397 | 369,193 | 342,814 | 381,182 | 372,208 |
| As % of Revenues | 7% | 13% | 24% | 29% | 25% | 24% | 19% |
| EPS (As reported) | |||||||
| Basic | $ 0.77 | $ 2.07 | $ 5.31 | $ 1.39 | $ 1.27 | $ 1.39 | $ 1.28 |
| Diluted | $ 0.41 | $ 1.46 | $ 5.02 | $ 1.29 | $ 1.19 | $ 1.32 | $ 1.22 |
| Number of Shares ('000) | |||||||
| Basic | 137,697 | 193,176 | 275,844 | 266,106 | 270,729 | 275,130 | 291,411 |
| Diluted | 256,638 | 272,781 | 291,874 | 286,612 | 287,238 | 289,673 | 303,972 |
Balance Sheet & Cash Flow Statement
(Figures in thousands, except per share amounts and EPS)
| Full Year | 2005 | ||||||
|---|---|---|---|---|---|---|---|
| 2003 | 2004 | 2005 | Q1 | Q2 | Q3 | Q4 | |
| Cash & Marketable Securities | 334,718 | 2,132,297 | 8,034,247 | 2,507,298 | 2,947,967 | 7,630,147 | 8,034,247 |
| Accounts Receivable | 154,690 | 311,836 | 687,976 | 371,905 | 419,238 | 541,815 | 687,976 |
| DSO (in days, using ending AR) | 39 | 36 | 41 | 27 | 28 | 31 | 33 |
| Property and equipment, net | 188,255 | 378,916 | 961,749 | 474,829 | 576,597 | 803,078 | 961,749 |
| Total Assets | 871,458 | 3,313,351 | 10,271,813 | 3,865,199 | 4,497,718 | 9,451,001 | 10,271,813 |
| Cash Flow from Operations | 395,445 | 977,044 | 2,459,422 | 529,622 | 624,619 | 646,747 | 658,434 |
| Capital Expenditures | 176,801 | 318,995 | 838,217 | 142,391 | 157,463 | 292,532 | 245,831 |
Supplemental Information
(Figures in thousands, except per share amounts and EPS)
| Full Year | 2005 | ||||||
|---|---|---|---|---|---|---|---|
| 2003 | 2004 | 2005 | Q1 | Q2 | Q3 | Q4 | |
| Stock-based compensation | 229,361 | 278,746 | 200,709 | 48,908 | 47,338 | 46,308 | 58,154 |
| Int'l revenues as % of Total Revenues | 29% | 34% | 39% | 39% | 39% | 39% | 38% |
| Ending Permanent Headcount | 1,628 | 3,021 | 5,680 | 3,482 | 4,183 | 4,989 | 5,680 |
| Sequential Headcount Growth Rate | 139% | 86% | 88% | 15% | 20% | 19% | 14% |
* Includes stock-based compensation charges
