Google (GOOG) Firing on All Cylinders as Q4 Revenues Ramp 36%
Tweet
Share
E-mail
Get Alerts GOOG Hot Sheet
Price: $155.49 -1.25%
Revenue Growth %: +12.8%
Financial Fact:
Interest and other income, net: 183M
Today's EPS Names:
MAXN, CSTR, ACU, More
Revenue Growth %: +12.8%
Financial Fact:
Interest and other income, net: 183M
Today's EPS Names:
MAXN, CSTR, ACU, More
Join SI Premium – FREE
Shares of Google (NASDAQ: GOOG) are jumping higher in after-hours trading Tuesday following stronger-than-expected fourth quarter results, showing a sharp jump in revenues.
The Internet giant reported consolidated revenues of $14.42 billion for the quarter, up 36% from last year's fourth quarter and up 8% quarter-on-quarter. Including recently sold Motorola Home, revenues would have been $15.24 billion. Excluding traffic acquisition costs (TAC) but including Motorola Home, Google's adjusted revenues for the quarter was $12.16 billion, which was just shy of the analyst consensus of $12.36 billion.
Notably, the company posted $50 billion in revenues for the first time last year.
GAAP operating income in the fourth quarter of 2012 was $3.39 billion, versus $3.51 billion in the fourth quarter of 2011. Non-GAAP operating income in the fourth quarter of 2012 was $4.27 billion, versus non-GAAP operating income of $4.04 billion in the fourth quarter of 2011. Had Google included Home, non-GAAP operating income in the fourth quarter of 2012 would have been $4.31 billion.
Non-GAAP EPS was $10.65, $0.13 better than the analyst estimate of $10.52.
In the quarter, Google-owned sites generated revenues of $8.64 billion, or 67% of total Google revenues, up 18%. Google's partner sites generated revenues of $3.44 billion, up 19%. Other revenues from Google were $829 million, up 102%.
Google international revenue was $6.9 billion, representing 54% of total Google revenues in the fourth quarter of 2012, compared to 53% in the third quarter of 2012 and 53% in the fourth quarter of 2011.
Aggregate paid clicks increased approximately 24% over the fourth quarter of 2011 and increased approximately 9% over the third quarter of 2012. Average cost-per-click decreased approximately 6% over the fourth quarter of 2011 and increased approximately 2% over the third quarter of 2012. Traffic acquisition costs, the portion of revenues shared with Google's partners, increased to $3.08 billion in the fourth quarter of 2012, compared to $2.45 billion in the fourth quarter of 2011. TAC as a percentage of advertising revenues was 25% in the fourth quarter of 2012, compared to 24% in the fourth quarter of 2011.
Motorola Mobile revenues were $1.51 billion, or 11% of consolidated revenues in the fourth quarter of 2012
As of December 31, 2012, cash, cash equivalents, and marketable securities were $48.1 billion.
Google said headcount increased to 53,861 full-time employees in the quarter, compared to 53,546 full-time employees as of September 30, 2012.
Commenting on the results, CEO Larry Page said: "Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year – not a bad achievement in just a decade and a half. In today's multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It's an incredibly exciting time to be at Google."
Shares of Google last traded at $736.80 after-hours Tuesday, up 4.8 percent.
The Internet giant reported consolidated revenues of $14.42 billion for the quarter, up 36% from last year's fourth quarter and up 8% quarter-on-quarter. Including recently sold Motorola Home, revenues would have been $15.24 billion. Excluding traffic acquisition costs (TAC) but including Motorola Home, Google's adjusted revenues for the quarter was $12.16 billion, which was just shy of the analyst consensus of $12.36 billion.
Notably, the company posted $50 billion in revenues for the first time last year.
GAAP operating income in the fourth quarter of 2012 was $3.39 billion, versus $3.51 billion in the fourth quarter of 2011. Non-GAAP operating income in the fourth quarter of 2012 was $4.27 billion, versus non-GAAP operating income of $4.04 billion in the fourth quarter of 2011. Had Google included Home, non-GAAP operating income in the fourth quarter of 2012 would have been $4.31 billion.
Non-GAAP EPS was $10.65, $0.13 better than the analyst estimate of $10.52.
In the quarter, Google-owned sites generated revenues of $8.64 billion, or 67% of total Google revenues, up 18%. Google's partner sites generated revenues of $3.44 billion, up 19%. Other revenues from Google were $829 million, up 102%.
Google international revenue was $6.9 billion, representing 54% of total Google revenues in the fourth quarter of 2012, compared to 53% in the third quarter of 2012 and 53% in the fourth quarter of 2011.
Aggregate paid clicks increased approximately 24% over the fourth quarter of 2011 and increased approximately 9% over the third quarter of 2012. Average cost-per-click decreased approximately 6% over the fourth quarter of 2011 and increased approximately 2% over the third quarter of 2012. Traffic acquisition costs, the portion of revenues shared with Google's partners, increased to $3.08 billion in the fourth quarter of 2012, compared to $2.45 billion in the fourth quarter of 2011. TAC as a percentage of advertising revenues was 25% in the fourth quarter of 2012, compared to 24% in the fourth quarter of 2011.
Motorola Mobile revenues were $1.51 billion, or 11% of consolidated revenues in the fourth quarter of 2012
As of December 31, 2012, cash, cash equivalents, and marketable securities were $48.1 billion.
Google said headcount increased to 53,861 full-time employees in the quarter, compared to 53,546 full-time employees as of September 30, 2012.
Commenting on the results, CEO Larry Page said: "Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year – not a bad achievement in just a decade and a half. In today's multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It's an incredibly exciting time to be at Google."
Shares of Google last traded at $736.80 after-hours Tuesday, up 4.8 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Google (GOOGL) Makes Structural Changes to AI Teams to Quicken Progress: CEO
- Netflix Q1 earnings top estimates on blowout subscriber growth
- Netflix to stop reporting subscriber tally as streaming wars cool
Create E-mail Alert Related Categories
Earnings, Hot EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
