2011 Financial Tables
Full year financial tables with quarterly data.
Google's Income Statement Information
(In millions, except share amounts which are reflected in thousands and per share amounts)
| Full Year | 2011 | |||||||
| (unaudited) | (unaudited) | |||||||
| Revenues | 2009 | 2010 | 2011 | Q1 | Q2 | Q3 | Q4 | |
| Revenues | $23,651 | $29,321 | $37,905 | $8,575 | $9,026 | $9,720 | $10,584 | |
| Y/Y Growth Rate | 9% | 24% | 29% | 27% | 32% | 33% | 25% | |
| Q/Q Growth Rate | NA | NA | NA | 2% | 5% | 8% | 9% | |
| Google Websites | $15,723 | $19,444 | $26,145 | $5,879 | $6,232 | $6,740 | $7,294 | |
| Y/Y Growth Rate | 9% | 24% | 34% | 32% | 39% | 39% | 29% | |
| Q/Q Growth Rate | NA | NA | NA | 4% | 6% | 8% | 8% | |
| Google Network Members' Websites | $7,166 | $8,792 | $10,386 | $2,427 | $2,484 | $2,595 | $2,880 | |
| Y/Y Growth Rate | 7% | 23% | 18% | 19% | 20% | 18% | 15% | |
| Q/Q Growth Rate | NA | NA | NA | -3% | 2% | 4% | 11% | |
| Total Advertising Revenues | $22,889 | $28,236 | $36,531 | $8,306 | $8,716 | $9,335 | $10,174 | |
| Y/Y Growth Rate | 8% | 23% | 29% | 28% | 33% | 33% | 25% | |
| Q/Q Growth Rate | NA | NA | NA | 2% | 5% | 7% | 9% | |
| Other Revenues | $762 | $1,085 | $1,374 | $269 | $310 | $385 | $410 | |
| Y/Y Growth Rate | 14% | 42% | 27% | -10% | 20% | 52% | 50% | |
| Q/Q Growth Rate | NA | NA | NA | -1% | 15% | 24% | 6% | |
| As % of Revenues | ||||||||
| Google Websites | 67% | 66% | 69% | 69% | 69% | 69% | 69% | |
| Google Network Members' Websites | 30% | 30% | 27% | 28% | 28% | 27% | 27% | |
| Other Revenues | 3% | 4% | 4% | 3% | 3% | 4% | 4% | |
| Full Year | 2011 | |||||||
| (unaudited) | (unaudited) | |||||||
| Costs | 2009 | 2010 | 2011 | Q1 | Q2 | Q3 | Q4 | |
| Cost of Revenues* | $8,844 | $10,417 | $13,188 | $2,936 | $3,172 | $3,378 | $3,702 | |
| As % of Revenues | 37% | 36% | 35% | 34% | 35% | 35% | 35% | |
| Traffic Acquisition Cost | $6,169 | $7,317 | $8,811 | $2,038 | $2,110 | $2,210 | $2,453 | |
| As % of Revenues | 26% | 25% | 23% | 24% | 23% | 23% | 23% | |
| Other Cost of Revenues* | $2,675 | $3,100 | $4,377 | $897 | $1,062 | $1,168 | $1,249 | |
| As % of Revenues | 11% | 11% | 12% | 10% | 12% | 12% | 12% | |
| Research & Development* | $2,843 | $3,762 | $5,162 | $1,226 | $1,234 | $1,404 | $1,298 | |
| As % of Revenues | 12% | 13% | 14% | 14% | 14% | 14% | 12% | |
| Sales & Marketing* | $1,984 | $2,799 | $4,589 | $1,026 | $1,091 | $1,204 | $1,268 | |
| As % of Revenues | 8% | 10% | 12% | 12% | 12% | 12% | 12% | |
| General & Administrative* | $1,668 | $1,962 | $2,724 | $591 | $648 | $676 | $809 | |
| As % of Revenues | 7% | 7% | 7% | 7% | 7% | 7% | 8% | |
| Charge Related to the Resolution of Department of Justice Investigation | NA | NA | 500 | 500 | NA | NA | NA | |
| As % of Revenues | NA | NA | 1% | 6% | NA | NA | NA | |
| Total Costs & Expenses* | $15,339 | $18,940 | $26,163 | $6,279 | $6,145 | $6,662 | $7,077 | |
| Y/Y Growth Rate | 1% | 23% | 38% | 46% | 38% | 41% | 30% | |
| Q/Q Growth Rate | NA | NA | NA | 15% | -2% | 8% | 6% | |
* Includes stock-based compensation expense.
| Full Year | 2011 | |||||||
| (unaudited) | (unaudited) | |||||||
| Profitability | 2009 | 2010 | 2011 | Q1 | Q2 | Q3 | Q4 | |
| Income from Operations | $8,312 | $10,381 | $11,742 | $2,296 | $2,881 | $3,058 | $3,507 | |
| As % of Revenues | 35% | 35% | 31% | 27% | 32% | 31% | 33% | |
| Net Income | $6,520 | $8,505 | $9,737 | $1,798 | $2,505 | $2,729 | $2,705 | |
| As % of Revenues | 28% | 29% | 26% | 21% | 28% | 28% | 26% | |
| EPS | ||||||||
| Basic | $20.62 | $26.69 | $30.17 | $5.59 | $7.77 | $8.44 | $8.34 | |
| Diluted | $20.41 | $26.31 | $29.76 | $5.51 | $7.68 | $8.33 | $8.22 | |
| Number of Shares | ||||||||
| Basic | 316,221 | 318,702 | 322,778 | 321,527 | 322,228 | 323,155 | 324,204 | |
| Diluted | 319,416 | 323,251 | 327,214 | 326,383 | 326,036 | 327,439 | 329,002 | |
Balance Sheet & Cash Flow Statement Information
(In millions, except DSO)
| Full Year | 2011 | |||||||
| (unaudited) | (unaudited) | |||||||
| 2009 | 2010 | 2011 | Q1 | Q2 | Q3 | Q4 | ||
| Cash, Cash Equivalents & Marketable Securities | $24,485 | $34,975 | $44,626 | $36,675 | $39,118 | $42,560 | $44,626 | |
| Accounts Receivable, Net of Allowance | $3,178 | $4,252 | $5,427 | $4,216 | $4,476 | $4,583 | $5,427 | |
| DSO (in days, using ending AR) | 49 | 53 | 52 | 44 | 45 | 43 | 47 | |
| Property and Equipment, Net | $4,845 | $7,759 | $9,603 | $8,249 | $9,003 | $9,204 | $9,603 | |
| Total Assets | $40,497 | $57,851 | $72,574 | $59,960 | $64,861 | $69,088 | $72,574 | |
| Cash Flow from Operations | $9,316 | $11,081 | $14,565 | $3,172 | $3,519 | $3,950 | $3,924 | |
| Capital Expenditures | $810 | $4,018 | $3,438 | $890 | $917 | $680 | $951 | |
Supplemental Information
(In millions, except headcount data)
| Full Year | 2011 | |||||||
| (unaudited) | (unaudited) | |||||||
| 2009 | 2010 | 2011 | Q1 | Q2 | Q3 | Q4 | ||
| Stock-Based Compensation Expense | $1,164 | $1,376 | $1,974 | $432 | $435 | $571 | $536 | |
| Int'l Revenues as % of Total Revenues | 53% | 52% | 54% | 53% | 54% | 55% | 53% | |
| Ending Permanent Headcount | 19,835 | 24,400 | 32,467 | 26,316 | 28,768 | 31,353 | 32,467 | |
| Sequential Headcount Growth Rate | -2% | 23% | 33% | 8% | 9% | 9% | 4% | |
