engine - 11:27 am on Jan 21, 2011 (gmt 0)
Google Announces Fourth Quarter and Fiscal Year 2010 Results and Management Changes
January 20, 2011 – Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter and the fiscal year ended December 31, 2010.
"Q4 marked a terrific end to a stellar year," said Eric Schmidt, CEO of Google. "Our strong performance has been driven by a rapidly growing digital economy, continuous product innovation that benefits both users and advertisers, and by the extraordinary momentum of our newer businesses, such as display and mobile. These results give us the optimism and confidence to invest heavily in future growth -- investments that will benefit our users, Google and the wider web."
Google reported revenues of $8.44 billion for the quarter ended December 31, 2010, an increase of 26% compared to the fourth quarter of 2009. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the fourth quarter of 2010, TAC totaled $2.07 billion, or 25% of advertising revenues.
Schmidt to be chairman, Larry Page now CEO [webmasterworld.com]