2008 Financial Tables
Full year financial tables with quarterly data.
Income Statement
(Figures in thousands, except per share amounts and EPS)
| Full Year | 2008 | ||||||
|---|---|---|---|---|---|---|---|
Revenues |
2006 | 2007 | 2008 | Q1 | Q2 | Q3 ** | Q4 |
| Revenues | 10,604,917 | 16,593,986 | 21,795,550 | 5,186,043 | 5,367,212 | 5,541,391 | 5,700,904 |
| Y/Y Growth Rate | 73% | 56% | 31% | 42% | 39% | 31% | 18% |
| Q/Q Growth Rate | NA | NA | NA | 7% | 3% | 3% | 3% |
| Google web sites | 6,332,797 | 10,624,705 | 14,413,826 | 3,400,405 | 3,530,145 | 3,672,111 | 3,811,166 |
| Y/Y Growth Rate | 88% | 68% | 36% | 49% | 42% | 34% | 22% |
| Q/Q Growth Rate | NA | NA | NA | 9% | 4% | 4% | 4% |
| Google Network web sites | 4,159,831 | 5,787,938 | 6,714,688 | 1,686,141 | 1,655,280 | 1,679,861 | 1,693,405 |
| Y/Y Growth Rate | 55% | 39% | 16% | 25% | 22% | 15% | 4% |
| Q/Q Growth Rate | NA | NA | NA | 3% | -2% | 1% | 1% |
| Total Advertising Revenues | 10,492,628 | 16,412,643 | 21,128,514 | 5,086,546 | 5,185,425 | 5,351,972 | 5,504,571 |
| Y/Y Growth Rate | 73% | 56% | 29% | 40% | 35% | 28% | 16% |
| Q/Q Growth Rate | NA | NA | NA | 7% | 2% | 3% | 3% |
| Licensing & other revenues | 112,289 | 181,343 | 667,036 | 99,497 | 181,787 | 189,419 | 196,333 |
| Y/Y Growth Rate | 53% | 61% | 268% | 172% | 440% | 352% | 183% |
| Q/Q Growth Rate | NA | NA | NA | 44% | 83% | 4% | 4% |
| As % of Revenues | |||||||
| Google web sites | 60% | 64% | 66% | 66% | 66% | 67% | 67% |
| Google Network web sites | 39% | 35% | 31% | 33% | 31% | 30% | 30% |
| Licensing & other revenue | 1% | 1% | 3% | 1% | 3% | 3% | 3% |
| Full Year | 2008 | ||||||
|---|---|---|---|---|---|---|---|
Cost |
2006 | 2007 | 2008 | Q1 | Q2 | Q3 ** | Q4 |
| Cost of Revenues* | 4,225,027 | 6,649,085 | 8,621,506 | 2,110,536 | 2,147,575 | 2,173,390 | 2,190,005 |
| As % of Revenues | 40% | 40% | 40% | 41% | 40% | 40% | 38% |
| Traffic Acquisition Cost | 3,308,777 | 4,933,878 | 5,938,951 | 1,486,384 | 1,473,980 | 1,495,206 | 1,483,382 |
| As % of Revenues | 31% | 30% | 28% | 29% | 27% | 27% | 26% |
| Other Cost of Revenues* | 916,250 | 1,715,207 | 2,682,555 | 624,152 | 673,595 | 678,184 | 706,623 |
| As % of Revenues | 9% | 10% | 12% | 12% | 13% | 12% | 12% |
| Research & Development* | 1,228,589 | 2,119,985 | 2,793,192 | 673,069 | 682,210 | 704,571 | 733,342 |
| As % of Revenues | 12% | 13% | 13% | 13% | 13% | 13% | 13% |
| Sales & Marketing* | 849,518 | 1,461,266 | 1,946,244 | 446,898 | 484,552 | 508,801 | 505,993 |
| As % of Revenues | 8% | 9% | 9% | 9% | 9% | 9% | 9% |
| General & Administrative* | 751,787 | 1,279,250 | 1,802,639 | 409,305 | 474,910 | 507,064 | 411,360 |
| As % of Revenues | 7% | 8% | 8% | 8% | 9% | 9% | 7% |
| Settlement of dispute with Yahoo! | NA | NA | NA | NA | NA | NA | NA |
| As % of Revenues | NA | NA | NA | NA | NA | NA | NA |
| Contribution to Google Foundation | NA | NA | NA | NA | NA | NA | NA |
| As % of Revenues | NA | NA | NA | NA | NA | NA | NA |
| Total Costs & Expenses* | 7,054,921 | 11,509,586 | 15,163,581 | 3,639,808 | 3,789,247 | 3,893,826 | 3,840,700 |
| Y/Y Growth Rate | 71% | 63% | 32% | 49% | 37% | 34% | 13% |
| Q/Q Growth Rate | NA | NA | NA | 7% | 4% | 3% | -1% |
| Full Year | 2008 | ||||||
|---|---|---|---|---|---|---|---|
Profitability |
2006 | 2007 | 2008 | Q1 | Q2 | Q3 ** | Q4 |
| Income from operations | 3,549,996 | 5,084,400 | 6,631,969 | 1,546,235 | 1,577,965 | 1,647,565 | 1,860,204 |
| As % of Revenues | 34% | 31% | 30% | 30% | 29% | 30% | 33% |
| Impairment on equity investments | NA | NA | ($1,094,757) | NA | NA | NA | ($1,094,757) |
| As % of Revenues | NA | NA | -5% | NA | NA | NA | -19% |
| Net Income | 3,077,446 | 4,203,720 | 4,226,858 | 1,307,086 | 1,247,391 | 1,289,938 | 382,442 |
| As % of Revenues | 29% | 25% | 19% | 25% | 23% | 23% | 7% |
| EPS (As reported) | |||||||
| Basic | $ 10.21 | $ 13.53 | $ 13.46 | $ 4.17 | $ 3.97 | $ 4.10 | $ 1.22 |
| Diluted | $ 9.94 | $ 13.29 | $ 13.31 | $ 4.12 | $ 3.92 | $ 4.06 | $ 1.21 |
| Number of Shares ('000) | |||||||
| Basic | 301,403 | 310,806 | 313,959 | 313,129 | 313,817 | 314,241 | 314,651 |
| Diluted | 309,548 | 316,210 | 317,514 | 317,392 | 318,023 | 317,776 | 316,864 |
Balance Sheet & Cash Flow Statement
(Figures in thousands, except per share amounts and EPS)
| Full Year | 2008 | ||||||
|---|---|---|---|---|---|---|---|
| 2006 | 2007 | 2008 | Q1 | Q2 | Q3 ** | Q4 | |
| Cash & Marketable Securities | 11,243,914 | 14,218,613 | 15,845,771 | 12,134,508 | 12,733,669 | 14,412,609 | 15,845,771 |
| Accounts Receivable | 1,322,340 | 2,162,521 | 2,642,192 | 2,560,909 | 2,641,901 | 2,541,492 | 2,642,192 |
| DSO (in days, using ending AR) | 46 | 48 | 44 | 45 | 45 | 42 | 43 |
| Property and equipment, net | 2,395,239 | 4,039,261 | 5,233,843 | 4,741,724 | 5,137,710 | 5,213,167 | 5,233,843 |
| Total Assets | 18,473,351 | 25,335,806 | 31,767,575 | 27,604,982 | 29,179,786 | 30,806,974 | 31,767,575 |
| Cash Flow from Operations | 3,580,508 | 5,775,410 | 7,852,857 | 1,779,446 | 1,766,154 | 2,184,955 | 2,122,299 |
| Capital Expenditures | 1,902,798 | 2,402,840 | 2,358,461 | 841,597 | 697,517 | 451,503 | 367,844 |
Supplemental Information
(Figures in thousands, except per share amounts and EPS)
| Full Year | 2008 | ||||||
|---|---|---|---|---|---|---|---|
| 2006 | 2007 | 2008 | Q1 | Q2 | Q3 ** | Q4 | |
| Stock-based compensation | 458,100 | 868,646 | 1,119,766 | 280,779 | 272,776 | 280,039 | 286,172 |
| Int'l revenues as % of Total Revenues | 43% | 48% | 51% | 51% | 52% | 51% | 50% |
| Ending Permanent Headcount | 10,674 | 16,805 | 20,222 | 19,156 | 19,604 | 20,123 | 20,222 |
| Sequential Headcount Growth Rate | 88% | 57% | 20% | 14% | 2% | 3% | 0% |
* Includes stock-based compensation charges
** Updated November 12 2008