2009 Financial Tables

Full year financial tables with quarterly data.

Income Statement

(In thousands, except per share amounts)

Full Year 2009
(unaudited)

Revenues

2007 2008 2009 Q1 Q2 Q3 Q4
Revenues 16,593,986 21,795,550 23,650,563 5,508,990 5,522,897 5,944,851 6,673,825
Y/Y Growth Rate 56% 31% 9% 6% 3% 7% 17%
Q/Q Growth Rate NA NA NA -3% 0% 8% 12%
Google Web Sites 10,624,705 14,413,826 15,722,486 3,692,823 3,652,628 3,955,731 4,421,304
Y/Y Growth Rate 68% 36% 9% 9% 3% 8% 16%
Q/Q Growth Rate NA NA NA -3% -1% 8% 12%
Google Network Web Sites 5,787,938 6,714,688 7,166,318 1,638,042 1,683,500 1,800,890 2,043,886
Y/Y Growth Rate 39% 16% 7% -3% 2% 7% 21%
Q/Q Growth Rate NA NA NA -3% 3% 7% 13%
Total Advertising Revenues 16,412,643 21,128,514 22,888,804 5,330,865 5,336,128 5,756,621 6,465,190
Y/Y Growth Rate 56% 29% 8% 5% 3% 8% 17%
Q/Q Growth Rate NA NA NA -3% 0% 8% 12%
Licensing & Other Revenues 181,343 667,036 761,759 178,125 186,769 188,230 208,635
Y/Y Growth Rate 61% 268% 14% 79% 3% -1% 6%
Q/Q Growth Rate NA NA NA -9% 5% 1% 11%
As % of Revenues
Google Web Sites 64% 66% 67% 67% 66% 67% 66%
Google Network Web Sites 35% 31% 30% 30% 31% 30% 31%
Licensing & Other Revenues 1% 3% 3% 3% 3% 3% 3%
Full Year 2009
(unaudited)

Costs

2007 2008 2009 Q1 Q2 Q3 Q4
Cost of Revenues* 6,649,085 8,621,506 8,844,115 2,101,504 2,107,971 2,226,240 2,408,400
As % of Revenues 40% 40% 37% 38% 38% 37% 36%
Traffic Acquisition Costs 4,933,878 5,938,951 6,169,416 1,435,960 1,453,354 1,559,216 1,720,886
As % of Revenues 30% 28% 26% 26% 26% 26% 26%
Other Cost of Revenues* 1,715,207 2,682,555 2,674,699 665,544 654,617 667,024 687,514
As % of Revenues 10% 12% 11% 12% 12% 11% 10%
Research & Development* 2,119,985 2,793,192 2,843,027 641,643 707,626 757,524 736,234
As % of Revenues 13% 13% 12% 12% 13% 13% 11%
Sales & Marketing* 1,461,266 1,946,244 1,983,941 433,941 469,039 497,812 583,149
As % of Revenues 9% 9% 8% 8% 8% 8% 9%
General & Administrative* 1,279,250 1,802,639 1,667,294 448,311 364,367 389,557 465,059
As % of Revenues 8% 8% 7% 8% 7% 7% 7%
Total Costs & Expenses* 11,509,586 15,163,581 15,338,377 3,625,399 3,649,003 3,871,133 4,192,842
Y/Y Growth Rate 63% 32% 1% 0% -4% -1% 9%
Q/Q Growth Rate NA NA NA -6% 1% 6% 8%
Full Year 2009
(unaudited)

Profitability

2007 2008 2009 Q1 Q2 Q3 Q4
Income from Operations 5,084,400 6,631,969 8,312,186 1,883,591 1,873,894 2,073,718 2,480,983
As % of Revenues 31% 30% 35% 34% 34% 35% 37%
Impairment of Equity Investments NA (1,094,757) NA NA NA NA NA
As % of Revenues NA -5% NA NA NA NA NA
Net Income 4,203,720 4,226,858 6,520,448 1,422,828 1,484,545 1,638,975 1,974,100
As % of Revenues 25% 19% 28% 26% 27% 28% 30%
EPS
Basic $ 13.53 $ 13.46 $20.62 $ 4.51 $ 4.70 $ 5.18 $6.22
Diluted $ 13.29 $ 13.31 $20.41 $ 4.49 $ 4.66 $ 5.13 $6.13
Number of Shares
Basic 310,806 313,959 316,221 315,252 315,901 316,497 317,237
Diluted 316,210 317,514 319,416 317,221 318,536 319,746 322,163

Balance Sheet & Cash Flow Statement

(In thousands, except DSO)

Full Year 2009
(unaudited)
2007 2008 2009 Q1 Q2 Q3 Q4
Cash, Cash Equivalents &
Marketable Securities
14,218,613 15,845,771 24,484,775 17,784,933 19,344,006 21,994,391 24,484,775
Accounts Receivable 2,162,521 2,642,192 3,178,471 2,543,105 2,701,912 2,807,341 3,178,471
DSO (in days, using ending AR) 48 44 49 42 45 43 44
Property and Equipment, Net 4,039,261 5,233,843 4,844,610 5,122,105 5,005,900 4,917,491 4,844,610
Total Assets 25,335,806 31,767,575 40,496,778 33,513,029 35,158,760 37,702,845 40,496,778
Cash Flow from Operations 5,775,410 7,852,857 9,316,198 2,249,512 1,609,172 2,725,983 2,731,531
Capital Expenditures 2,402,840 2,358,461 809,888 262,755 139,437 186,339 221,357

Supplemental Information

(In thousands, except headcount data)

Full Year 2009
(unaudited)
2007 2008 2009 Q1 Q2 Q3 Q4
Stock-Based Compensation Expense 868,646 1,119,766 1,164,054 277,483 293,070 317,527 275,974
International Revenues as % of Total Revenues
48% 51% 53% 52% 53% 53% 53%
Ending Permanent Headcount 16,805 20,222 19,835 20,164 19,786 19,665 19,835
Sequential Headcount Growth Rate 57% 20% -2% 0% -2% -1% 1%

* Includes stock-based compensation expense